The commission may grant and hold a rehearing on those matters, if in its judgment sufficient reason is made to appear. (b)(1) After an order or decision has been made by the commission, a party to the action or proceeding, or a stockholder, bondholder, or other party pecuniarily interested in the public utility affected may apply for a rehearing in respect to matters determined in the action or proceeding and specified in the application for rehearing.
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