Storage Auction System - ITQ
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Frequently Asked Questions

What is the purpose of the ITQ auction?
Interruptible storage injection and withdrawal rights (“IT” rights) are provided with purchased inventory rights as zero-priced IT rights. When there is a constraint on the use of these rights, the rights are scheduled based on an interruptible priority queue (“ITQ”) that is ranked by price. The ITQ auction is the means for creating this price-based queue by enabling bidders to attach a price and move up the queue. Higher-priced IT rights will be scheduled ahead of lower-priced IT rights in compliance with the bumping rules. The price is charged only if the rights are scheduled.

When does the auction begin?
When does the auction close?
If I want to improve my place in the queue or add more quantity what should I do?
Can I be on multiple price tiers of the IT queue?
If there is a likelihood of an OFO and I choose to bid in the storage auction but an OFO is not called, am I still charged for the use of interruptible rights?
For interruptible storage injection, is the ITQ bill based on the scheduled quantity, or the stored quantity?
How will I know if my bid is accepted?
Can I cancel or reduce a bid?
If I do not participate in the storage auction, can I use my interruptible rights during an OFO?
When is interruptible capacity determined?
What are the bumping rules for the use of interruptible rights?
Where can I see historical bidding activity?
Are the bids made public?
What is a "Proxy Bid"?
The "Proxy Bid" only matches the highest bid. How can I get the Proxy Bid to go above the highest bid?
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