On October 24, the United States Court of Appeals for the Fifth Circuit in Texas Pipeline Association v. Federal Energy Regulatory Commission held that the Federal Energy Regulatory Commission (FERC) exceeded its statutory authority in issuing Order Nos. 720 and 720-A, which required certain intrastate natural gas pipelines to post information on scheduled flow and design capacity. These posting requirements were established to (1) improve market participants' ability to assess supply and demand and to price physical natural gas transactions, (2) help market participants better understand the impact of disruptions to the natural gas delivery system on the industry and economy, and (3) allow market participants to identify potentially manipulative activity.