Key data
| Regulation | Royal Decree 825/2026, of October 14 |
|---|---|
| Publication | October 15, 2026 |
| Entry into force | October 16, 2026 |
| Affected parties | CNMC, companies investigated for competition, regulated sectors (energy, telecommunications, transport) |
| Category | Public Sector |
| Year | 2026 |
| Modified regulation | Organic Statute of the CNMC, approved by Royal Decree 657/2013, of August 30 |
| New articles | Art. 31 bis (Chief Economist) and Art. 31 ter (Economic Intelligence Subdirectorate) |
The CNMC has just equipped itself with two technical tools that will change how it analyzes markets and proceedings. The Royal Decree 825/2026, published on October 15, 2026, modifies the Organic Statute of the CNMC—in force since Royal Decree 657/2013—to create the position of Chief Economist and the Economic Intelligence Subdirectorate. Both figures enter into force on October 16, 2026.
For companies operating in regulated sectors or with open proceedings before the CNMC, this is not a minor administrative change: it is a clear signal that the regulator will raise the technical level of its analyses, incorporating artificial intelligence, advanced statistics, and economic databases into its investigations.
What does this regulation establish?
Royal Decree 825/2026 introduces two new articles in the Organic Statute of the CNMC. Below is the detail of each figure:
| Figure | Article | Hierarchical dependence | Main functions | Condition |
|---|---|---|---|---|
| Chief Economist | Art. 31 bis | Directly from the Presidency, with full functional autonomy | Advisory in competition, regulation, and supervision proceedings; liaison with the academic community | Senior management personnel |
| Economic Intelligence Subdirectorate | Art. 31 ter | Presidency / CNMC organizational structure | Quantitative analysis tools, economic databases, application of AI and statistics, support in detecting anticompetitive conduct | Senior management personnel |
The reform responds to two concrete factors: the growing technical complexity of digital markets and the role the CNMC has assumed in analyzing the economic impact of government measures. This is purely an organizational regulation: it does not impose direct obligations on companies or citizens.
Economic and operational impact
Although Royal Decree 825/2026 does not generate direct costs for companies, its operational impact is relevant for those who interact with the CNMC:
- Greater sophistication in competition proceedings: The Chief Economist will advise directly on proceedings, which means that the CNMC's economic analyses will be more rigorous and difficult to challenge without equivalent technical arguments.
- Use of AI and quantitative analysis in investigations: The Economic Intelligence Subdirectorate will develop AI tools, advanced statistics, and economic databases. This accelerates the detection of anticompetitive conduct and raises the evidentiary standard.
- Connection with academia: The Chief Economist will act as a liaison with the academic community, which can translate into more up-to-date analysis methodologies aligned with international economic research.
- Impact on regulated sectors: Energy, telecommunications, and transport—the three sectors under direct CNMC supervision—will see how regulatory decisions are supported by more complex quantitative analyses.
- Indirect cost for investigated companies: If the CNMC raises its technical level, companies in competition proceedings will need more specialized economic and legal teams to defend themselves, which may increase defense costs.
Who does it affect?
- Companies investigated for anticompetitive conduct (cartels, abuse of dominant position, concentrations): will face more sophisticated economic analyses from the CNMC.
- Energy sector (utilities, gas companies, network operators): subject to CNMC regulatory supervision with greater analytical capacity.
- Telecommunications sector (mobile operators, broadband, pay television): same as the energy sector.
- Transport sector (rail, air, port within CNMC's scope): under the same umbrella of enhanced supervision.
- Digital market companies: the reform explicitly responds to the complexity of these markets; platforms, marketplaces, and large technology companies with activity in Spain should pay special attention.
- Law firms and economic consulting firms advising in proceedings before the CNMC: will need to adapt their teams and methodologies to the regulator's new technical standard.
- Public bodies whose measures are subject to economic impact analysis by the CNMC.
Practical example
Imagine a telecommunications company being investigated by the CNMC for possible predatory pricing practices in the business broadband market.
Before this reform, the CNMC's economic analysis relied on existing internal technical teams, with standard methodologies. With the entry into force of Royal Decree 825/2026, the proceeding will have direct advice from the Chief Economist—who reports to the Presidency with full functional autonomy—and quantitative analysis and artificial intelligence tools developed by the new Economic Intelligence Subdirectorate.
The practical result: the CNMC can model with greater precision the effects of the investigated conduct on the market, identify statistical patterns that previously required more time, and support its decision on a more solid economic basis. For the investigated company, this means that a defense based solely on legal arguments is no longer sufficient: it will need an economist expert in market analysis who can rebut the regulator's quantitative models.
What should companies do now?
- Assess your exposure to the CNMC: If your company operates in energy, telecommunications, transport, or digital markets, or if you have open or foreseeable proceedings, this change directly affects you. Make an inventory of your active or potential proceedings.
- Review the quality of your economic team in competition proceedings: The CNMC will argue with greater quantitative rigor. Make sure your legal advisors work with economists specialized in market analysis and can respond to AI models and advanced statistics.
- Update your compliance protocols in regulated sectors: If you are an operator in energy, telecommunications, or transport, anticipate that CNMC regulatory decisions will incorporate more detailed analyses. Adapt your reporting systems and internal documentation.
- Monitor the activity of the new Economic Intelligence Subdirectorate: The tools and databases developed by this subdirectorate will set the technical standard for future proceedings. Staying aware of its publications and methodologies will give you an advantage in any proceeding.
- Consult with your legal advisor if you have an ongoing proceeding: If you are already in a proceeding before the CNMC, assess with your team whether the regulator's new technical capacity requires strengthening the economic arguments of your defense.
Frequently asked questions
Does Royal Decree 825/2026 impose any direct obligation on companies?
No. Royal Decree 825/2026 is a purely organizational regulation that modifies the Organic Statute of the CNMC. It does not impose obligations, sanctions, or adaptation deadlines on companies or citizens. Its impact is indirect: it increases the regulator's technical capacity, which affects how the CNMC analyzes competition and regulation proceedings.
What exactly does the new CNMC Chief Economist do?
According to art. 31 bis introduced by Royal Decree 825/2026, the Chief Economist reports directly to the CNMC Presidency with full functional autonomy. Their functions are: to advise on competition, regulation, and supervision proceedings, and to act as a liaison between the CNMC and the academic community. They have the status of senior management personnel.
What does the new CNMC Economic Intelligence Subdirectorate do?
Regulated in art. 31 ter, this subdirectorate has four main functions: develop quantitative analysis tools, build and manage economic databases, apply artificial intelligence and advanced statistics, and support the detection of anticompetitive conduct. Its personnel also have the status of senior management personnel.
When does this reform of the CNMC Statute enter into force?
Royal Decree 825/2026 was published in the BOE on October 15, 2026, and entered into force the following day, October 16, 2026. It modifies the Organic Statute of the CNMC approved by Royal Decree 657/2013, of August 30.
Which sectors should pay more attention to this CNMC reform?
The sectors with the greatest exposure are energy (utilities, gas companies, networks), telecommunications (mobile operators, broadband, pay television), and transport (rail, air, port within the CNMC's scope). Also digital market companies, since the reform explicitly responds to the growing technical complexity of these markets.
Official source
Consult full regulation at official source
Disclaimer: This article is for informational purposes only and does not constitute legal advice. For specific decisions, consult a qualified professional. Source: https://www.boe.es/diario_boe/txt.php?id=BOE-A-2026-21446
