Digitalisation, the introduction of AI into processes, and the outbreak of conflict in the Middle East have increased the volume of data that the regulator must measure and manage. This is why the CNMC will now take on specific functions of economic analysis and measurement of the impact of anti-crisis measures (caps, aids, price transfers), similar to the Chief Economist role already present in the European Commission or the British CMA.
To this end, the government has modified the organic statute of the National Commission on Markets and Competition through a Royal Decree published in the Official State Bulletin in October. The two most significant changes of this reform are the introduction of the Chief Economist position and the Subdirectorate of Economic Intelligence that will be under their responsibility.
The Chief Economist will depend directly on the Presidency, with full functional autonomy, and will provide cross-cutting advice to all bodies involved in instruction and resolution in competition, regulation, and supervision cases. Their functions include creating common methodologies, exploiting data, and acting as a liaison with the academic community. They are appointed by the Plenary of the Council at the proposal of the Presidency.
For its part, the Subdirectorate of Economic Intelligence will be the executive body that depends on the Chief Economist. Its mission is to develop quantitative analysis tools, statistical models, and artificial intelligence to manage large volumes of data, detect cartels and collusive behaviours, and assist in the design of actions.