Within twenty days after an order or decision has been made by the Commission any party to the action or proceeding may apply for a rehearing in respect to any matters determined in such action or proceeding and specified in the application for rehearing and a rehearing shall be granted if in the judgment of the Commission sufficient reason therefor be made to appear. No cause of action arising out of any order or decision of the Commission shall accrue in any court to any corporation or person unless such corporation or person shall have made application to the Commission for a rehearing within the time herein specified. Such application shall set forth specifically the ground on which the applicant considers such decision or order to be unlawful. Such determination shall be made by the Commission within thirty days after it shall be finally submitted. If, after such hearing and a consideration of all the facts, including those arising since the making of the order or decision, the Commission shall be of the opinion that the original order or decision, or any part thereof, is in any respect unjust or unwarranted or should be changed, the Commission may abrogate, change or modify it and, if changed or modified, such modified order shall be substituted in the place of the order originally entered and with like force and effect.