SM Retail plugs into 100% clean energy with MPower
- January 28, 2025
SM Retail, the largest retail chain in the Philippines, is tapping MPower, the retail electricity supplier of Manila Electric Company (Meralco), to provide clean energy to select properties in Metro Manila.
MPower has signed a long-term contract with SM Retail to supply 100% renewable energy (RE) to its largest establishments in the metro, including SM Retail’s main headquarters in Pasay City.
A subsidiary of SM Investments Corporation, SM Retail operates a vast network of store concepts across the country, including 74 retail stores, 65 supermarkets, 54 hypermarkets, and nearly 2,000 specialty stores.
“As a key player in the retail industry, SM remains vigilant of its environmental impact and social responsibility. With this partnership with MPower, we are on track with our goal of powering our facilities with renewable energy under the Competitive Retail Electricity Market (CREM),” said Luis Lava, SM Retail vice president for workplace and administration.
(Also read: Powering Through 2024: Top 5 Energy Highlights in the PH)
A free and fair energy sector
Overseen by the Energy Regulatory Commission, the CREM system allows energy consumers with a monthly average consumption of at least 500 kilowatts (kW) to choose their preferred electricity supplier. This enables businesses such as SM Retail to benefit from competitive pricing and greater flexibility in energy sourcing, helping them lower operational costs while supporting the country’s transition to clean energy.
“SM Retail now stands among our valued customers to benefit from MPower’s competitively priced renewable energy portfolio. As a reflection of our commitment to sustainability, we will continue our efforts to meet the growing demand for renewable energy supply in the contestable market,” Redel Domingo, first vice president and head of MPower, added.
(Also read: Private and Public Establishments Join Hands in Creating Green Regulations for Sustainable Building Development)
A win for the triple bottom line
The partnership between SM Retail and MPower reflects an increasing shift to renewable energy by the country’s business enterprises, driving both economic and environmental gains.
Last year, MPower signed contracts with other companies to increase their use of renewable energy. These include the property developments of the conglomerate Alliance Global Group (AGI), property firm D.M. Wenceslao and Associates Inc. (DMW), and West zone concessionaire Maynilad Water Services Inc.
Sources:
https://www.sminvestments.com/brands/#retail
https://mb.com.ph/2025/1/21/m-power-powers-sm-retail-with-100-re
https://www.wesm.ph/market-development/retail
https://www.philstar.com/business/2024/09/29/2388626/meralco-arm-dm-wenceslao-ink-green-energy-deal
