Green Core Geothermal Inc. (GCGI), a subsidiary of geothermal leader Energy Development Corporation (EDC) and the Capiz Electric Cooperative, Inc. (CAPELCO) signed an amendment to their Power Supply Agreement (PSA) extending the existing contract until December 2040. GCGI and CAPELCO agreed on a new price pursuant to the re-pricing provisions and market-based price structure in their original ten-year PSA, which was signed in August 2010. Based on the amended PSA, GCGI reduced its price in 2015 by approximately P0.30 per kilowatt-hour. CAPELCO has saved for its member consumers PhP 140 Million annually in generation charges. GCGI and CAPELCO agreed on a new price pursuant to the re-pricing provisions and market-based price structure in their original ten-year PSA, which was signed in August 2010 and has been extended until December 2040.