The ascending auction begins with the first round of requests from each participant.

If the sum of all requests in this or any subsequent auction round is higher than the storage
capacity offered, a further auction round follows in which the price per unit of storage
capacity is increased by the value specified in the Auction Terms and Conditions.

The auction ends if, at the end of the auction round, the sum of the storage capacity
reservation requests is less than or equal to the storage capacity offered.

The auction also ends if the Storage Operator activates an offer of additional storage
capacity during the break between auction rounds.

At the end of the auction, the entire storage capacity required for the first storage period in
the last round is reserved for the participants.

If part of the storage capacity offered for the first period remains unreserved after the last
auction round, this part of the storage capacity is allocated proportionally to the requests
from the penultimate auction round for the first period, with the last but one round
requirements being reduced by the requests from the last auction round before the start of
the allocation.

The storage capacity for the second and subsequent periods is allocated using the same
algorithm as for the first period, except that the amount of allocated capacity for the second
and subsequent periods may not exceed the allocated storage capacity for the previous
period.

The price for the reserved storage capacity is applied from the relevant auction round from
which the capacity was allocated.

The descending auction starts with the first auction round, when each participant may
submit a request for storage capacity. Individual requests are satisfied immediately after
they are made (i.e. the earliest requests are satisfied first).

If the sum of all requests in all auction rounds is lower than the storage capacity offered, another auction round takes place in which the price per unit of storage capacity is reduced by the value specified in the Auction Terms and Conditions.

If a participant places a request during the last minute of an auction
round, the auction round is extended by one minute.

The auction ends if the sum of all requests entered is equal to or higher than the offered
storage capacity and the additional storage capacity has not been activated.

If the additional storage capacity has been activated, the auction ends if the sum of all
requests entered is equal to or higher than the offered storage capacity plus the additional
storage capacity.

The auction also ends if the price of the next auction round is lower than the minimum price
set by the Storage Operator (this price is set by the Storage Operator before the auction
starts, but is not published).

The entire required storage capacity is always reserved to the participants at the price of the
auction round.

If, after the last auction round, part of the offered storage capacity remains unallocated, this
capacity remains free storage capacity and may be offered in subsequent auctions.