“The energy crisis is a call to action for individuals, corporations, and governments.” – Richard Branson
Rightfully so, in a well-timed and swift action, SM Prime Holdings, Inc. (SM Prime) answered a national call and signed the Interruptible Load Program (ILP) with MORE Power Iloilo, the distribution utility in Iloilo City. Sealed on April 30, 2024, the agreement will address the pressing energy crisis in the Philippines. It 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,” remarked Engr. TEODORO S. BAUTISTA, Vice President – Operations, SM Engineering Design and Development.
Earlier in a press conference, the Department of Energy (DOE) “emphasized that the country’s power situation has reached crisis levels, highlighting the urgent need for actions like this.” According to an insider, “The ILP agreement between SM Prime and MORE Power couldn’t have come at a more crucial juncture, as forecasts predict a worsening scenario in 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,” stated 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.
Taking into account the current 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.