Tenneco Oil Company v. Federal Energy Regulatory Commission, Nos. 76-2960

RONEY, Circuit Judge:

In 1976, the Commission established, for the first time, a national rate which would govern future prices for “flowing gas,” i. e., natural gas from wells commenced prior to January 1, 1973. In this decision we affirm the Commission’s rate, find its procedure proper, and hold the petitioners have failed to show the rate is unjust and unreasonable under the limited review permitted this Court. We reverse only that portion of the Commission’s order which denies refund credit under the new rate to producers who have already dedicated gas to the interstate market on the…