Energy releasing phase:

1. Two reactions occur concurrently: 1) G3P is phosphorylated at C1 by G3P dehydrogenase to form 1,3,-bisphosphoglycerate 2) NAD+ is reduced to NADH and H+
2.  1,3-bisphosphoglycerate donates a single phosphate group to ADP through phosphoglycerate kinase to form ATP and 3-phosphoglycerate
3. 3-phosphoglycerate is converted to its isomer 2-phosphoglycerate by phosphoglycerate mutase
4. 2-phosphoglycerate is converted to phosphopyruvate (PEP) through enolase; water, magnesium, and potassium are all released in the process
5. PEP donates a single phosphate group to ADP, forming a second molecule of ATP and pyruvate

Each step in the energy-releasing phase happens twice per glucose sugar since glucose divides to form 2 molecules of glyceraldehyde-3-phosphate.