Key data
| Regulation | Royal Decree 623/2026, of July 21 |
|---|---|
| Publication in BOE | July 22, 2026 |
| Entry into force | July 21, 2026 |
| Person appointed | Joan Capdevila i Esteve |
| Position | Advisor of the National Commission for Markets and Competition (CNMC) |
| Proposed by | Carlos Cuerpo Caballero, First Vice President and Minister of Economy |
| Legal basis | Article 15.1 of Law 3/2013 on the creation of the CNMC; Law 3/2015 regulating the exercise of senior office |
| Affected sectors | Energy, telecommunications, transport and business competition |
| Category | Public Sector |
| Year | 2026 |
The CNMC has in its hands decisions that can mean millions of euros for companies: from the approval of access tariffs for electrical or telecommunications networks, to the authorization of mergers or the imposition of fines for anticompetitive practices. Each change in its internal composition is, therefore, a signal that executives and advisors in regulated sectors must read carefully.
The Royal Decree 623/2026, published in the BOE on July 22, 2026 with effects from the previous day, formalizes the appointment of Joan Capdevila i Esteve as CNMC Advisor. The appointment is made at the proposal of the First Vice President and Minister of Economy, Carlos Cuerpo Caballero, and complies with all the procedures required by Law 3/2015 regulating the exercise of senior office.
What does this regulation establish?
Royal Decree 623/2026 has a single and specific purpose: the formal appointment of Joan Capdevila i Esteve as Advisor to the National Commission for Markets and Competition (CNMC).
The CNMC is the independent regulatory body that supervises and controls the proper functioning of markets in Spain. Its scope of action covers four major sectors:
- Energy: electricity and gas, including access tariffs, network remuneration and operator supervision.
- Telecommunications: regulation of the electronic communications market, radio spectrum and postal services.
- Transport: rail, air and other modes subject to economic regulation.
- Business competition: control of concentrations, investigation of anticompetitive practices and state aid.
The appointment is based on article 15.1 of Law 3/2013, on the creation of the CNMC, and the procedures provided for in Law 3/2015 regulating the exercise of senior office have been complied with. This includes the declarations of activities and incompatibilities inherent to senior officials of the General State Administration.
The CNMC is governed by a Board composed of a President and several Advisors. Each advisor may be assigned supervision of one or more sectors, which makes their profile and orientation relevant to companies operating in those areas.
Economic and operational impact
This appointment does not directly modify any current tariff, fee or regulatory obligation. However, it has an indirect but real impact on regulated companies, for several reasons:
- Change in Board composition: The incorporation of a new advisor alters the balance of criteria and sensitivities within the CNMC's governing body. This may influence the direction of future decisions, especially in competition proceedings, setting regulated tariffs or authorizing corporate operations.
- Medium-term regulatory orientation: CNMC decisions on energy or telecommunications can mean differences of tens or hundreds of millions of euros for affected operators. A shift in supervision criteria has direct economic consequences.
- Ongoing proceedings: Companies with open procedures before the CNMC (investigations, authorizations, appeals) must consider that the new Board composition may affect the timelines and direction of pending decisions.
Who does it affect?
- Energy sector companies: utilities, gas companies, distributors, retailers and network operators.
- Telecommunications operators: electronic communications service providers, cable operators, fiber and spectrum operators.
- Transport sector companies: rail operators, airport operators and others subject to economic regulation by the CNMC.
- Companies in merger or acquisition processes: any concentration operation exceeding CNMC notification thresholds.
- Companies under investigation or with open proceedings for anticompetitive practices or abuse of dominant position.
- Legal advisors, regulatory consultants and CFOs of business groups with exposure to regulated markets in Spain.
Practical example
An electricity distribution company has a pending proceeding before the CNMC regarding the remuneration of its distribution network for the next regulatory period. The new Board composition, with the incorporation of Joan Capdevila i Esteve, may influence the criteria used to assess regulated assets or the level of remuneration recognized.
Similarly, a telecommunications operator that has requested the CNMC to review the wholesale access conditions to a dominant operator's network should be alert to whether the new advisor is assigned supervision of the electronic communications sector, as their criteria may be decisive in the final decision.
In both cases, the practical recommendation is to review the status of open proceedings and assess whether it is advisable to update arguments or defense strategy before the regulator.
What should companies do now?
- Identify if you have open proceedings before the CNMC: Review with your legal advisor if there are ongoing procedures (authorizations, investigations, appeals) that may be affected by the change in Board composition.
- Monitor the first decisions of the new Board: The first decisions adopted after Capdevila i Esteve's incorporation will provide clues about regulatory orientation in each sector. Activate alerts on CNMC decisions in your business area.
- Review your medium-term regulatory strategy: If your company operates in energy, telecommunications or transport, evaluate with your regulatory affairs team whether the criteria you have been applying remain the most appropriate given the new regulator composition.
- Consult the public profile of the new advisor: Law 3/2015 requires senior officials to publish their declarations of activities and incompatibilities. Reviewing their professional background can anticipate their areas of specialization and regulatory sensitivities.
- Keep your relationship with the regulator updated: If your company participates in public consultations or CNMC hearing processes, ensure that your positions are well documented and updated for the new regulatory cycle.
Frequently asked questions
Who is Joan Capdevila i Esteve and what position does he hold at the CNMC?
Joan Capdevila i Esteve has been appointed Advisor to the National Commission for Markets and Competition (CNMC) by Royal Decree 623/2026, of July 21. The appointment was proposed by the First Vice President and Minister of Economy, Carlos Cuerpo Caballero, in accordance with article 15.1 of Law 3/2013 on the creation of the CNMC.
What sectors does the CNMC supervise and may be affected by this appointment?
The CNMC supervises four major areas: energy (electricity and gas), telecommunications (electronic communications and postal services), transport (rail, air and other regulated modes) and business competition (control of concentrations, anticompetitive practices). All operators in these sectors may be indirectly affected by the new Board composition.
When does Capdevila i Esteve's appointment to the CNMC take effect?
Royal Decree 623/2026 takes effect from July 21, 2026, the date of its signature, although it was published in the BOE on July 22, 2026.
What law regulates the appointment of CNMC advisors?
The appointment is based on article 15.1 of Law 3/2013, on the creation of the CNMC. Additionally, the procedures provided for in Law 3/2015, regulating the exercise of senior office in the General State Administration, have been complied with.
What should regulated companies do in light of this change at the CNMC?
Companies with open proceedings before the CNMC should review their regulatory strategy with their legal advisor. It is also advisable to monitor the first decisions of the new Board to identify possible changes in criteria in energy, telecommunications, transport or competition, and update positions in public consultations or ongoing proceedings.
Official source
Consult complete regulation in 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-2026-15956