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  5. 676 P.2d 817 (1984)
 

GAS CO. OF N.M. v. N.M. PUB. SERVICE COM'N

No. 14435.

676 P.2d 817 (1984)

100 N.M. 740

GAS COMPANY OF NEW MEXICO, A DIVISION OF SOUTHERN UNION COMPANY, a Delaware Corporation, Appellant, v. NEW MEXICO PUBLIC SERVICE COMMISSION, Appellee, Attorney General of the State of New Mexico, Intervenor.

Supreme Court of New Mexico.

Rehearing Denied March 1, 1984.

Attorney(s) appearing for the Case

Kate M. Southard, Albuquerque, Montgomery & Andrews, Seth D. Montgomery, Thomas W. Olson, Santa Fe, for appellant.

Patrick Ortiz, Com'n Counsel, Charles F. Noble, Staff Counsel, NM Public Service Com'n, Santa Fe, for appellee.

Paul Bardacke, Atty. Gen., Suedeen G. Kelly, Asst. Atty. Gen., Santa Fe, for intervenor.

OPINION

PAYNE, Justice.

This appeal challenges Public Service Commission's decision to impute as income to Gas Company 75% of Southern Union Refining Company's (SURCO's) gross revenue from the sale of liquid gas, thereby reducing the cost of gas charged to utility customers.

Gas Company purchases natural gas at the wellhead. But the gas contains impurities, heavier hydrocarbons, which condense in high pressure transmission lines, sometimes causing...

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