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Manila Bulletin devider Business devider SM Prime answers national call, signs ILP agreement with MORE Power

SM Prime answers national call, signs ILP agreement with MORE Power

Published May 14, 2024 02:09 am
MORE POWER SM.jpg

In a timely and critical move, SM Prime Holdings, Inc. (SM Prime) has stepped up to address the pressing energy crisis in the Philippines by signing the Interruptible Load Program (ILP) with MORE Electric and Power Corporation (MORE Power), the distribution utility in Iloilo City.

The agreement, inked on April 30, 2024, is poised to make significant strides in alleviating the strain on the Visayas grid, which has been grappling with yellow and red alert statuses due to thin energy reserves.

“In times of crisis, it is crucial for businesses to collaborate with utilities and government agencies to ensure the stability of our energy supply,” said Engr. Teodoro S. Bautista, Vice President for Operations, SM Engineering Design and Development.

In a press conference on April 25, the Department of Energy emphasized that the country’s power situation has reached crisis levels, highlighting the urgent need for actions like this. The ILP agreement between SM Prime and MORE Power couldn’t have come at a more crucial juncture, as forecasts predict a worsening scenario this May with rising temperatures and escalating consumer demand for electricity.

“We recognize the gravity of the situation and are committed to doing our part in supporting the nation’s energy resilience,” said Roel Z. Castro, president and CEO of MORE Power.

The ILP serves as a beacon of cooperation between the private and public sectors in addressing the energy shortfall. By voluntarily reducing their electricity consumption during peak hours or when grid stability is threatened, participants like SM Prime play a pivotal role in stabilizing the energy supply and averting potential blackouts.

“SM Prime’s commitment to the ILP underscores its profound dedication to corporate responsibility and the welfare of the nation. By actively participating in initiatives geared towards enhancing energy resilience, we hope we’re able to encourage other businesses to join in these crucial efforts,” added Engr. Bautista.

In light of the ongoing energy crisis, such collaborative efforts between industry leaders and utilities like MORE Power are not only commendable but also imperative for safeguarding the nation’s energy security. As the country braces for the challenges ahead, partnerships like these offer a glimmer of hope amidst uncertain times.

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