In conducting auctions, the Department may employ any of the following auction formats, or an auction format consisting of any or all of the components in §§B—E of this regulation. Sealed Bid, Discriminatory Price. In this format: There is a single or multiple round sealed-bid auction in which the bidders may submit multiple bids at different prices; and Allowances are awarded to the highest bidders at their own bid price. Sealed Bid, Uniform Price. In this format: There is a single or multiple round sealed-bid auction in which bidders may submit multiple bids at different prices; and The price paid by all awarded bidders shall be uniform. Ascending Price, Multiple Round. In this format: There is a multiple round auction starting with an opening price with increases for each round by predetermined increments; In each round, bidders offer the quantity they are willing to purchase at the posted price; Rounds continue until demand exceeds the quantity offered for sale; and At the completion of the final round, the Department shall award allowances as follows: Bidders who bid above the final price shall receive full allocations; Bidders who bid at the final price shall receive full allocations in time-stamp order until the quantity of allowances offered for sale is exhausted; Bidders who bid at the final price but late in the auction may receive prorated allocations or no allocations at all; and The Department may incorporate alternate award scenarios consistent with those established by other participating states. Descending Price, Multiple Round. In this format: There is a multiround auction starting with a high provisional price, which falls in each round by predetermined increments; In each round, the bidder may lock in some purchases at the current provisional price or the bidder may wait for the price to fall; and The auction rounds cease when the number of allowances locked in is greater than or equal to the quantity of allowances being offered. The Department may establish a limit on the number of allowances that can be purchased by any one bidder at an auction. This limit shall be consistent with limits established in other participating states.