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Regulated markets and antitrust: The subtle difference between intervening in a regulated market and intervening the regulated market. An analysis based on the public tenders in the telecommunications market and the aeronautical market
Authors
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Cristóbal Martínez Varela
Claro & Cía.
https://orcid.org/0009-0003-2536-7132
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Abstract
The relationship between competition law and sectoral regulation has al-ways been a matter of constant and ongoing tension. The role to be played by compe-tition authorities in a heavily regulated market, where its agents operate according to predefined rules, is inherently complex and multifaceted. Decree-law 211 is regarded as a fundamental part of Chile’s economic public order, ensuring that both public and private agencies that intervene in a regulated market are, in principle, obliged to respect its provisions. However, there are occasions when the enforcement of sectorial regula-tions creates significant tensions with the principles and rules established in Decree-law 211. This raises the important question of when it is appropriate for the competition authority to intervene in such regulated markets. Based on two landmark cases ruled in 2009 by the Supreme Court, concerning public bids in the telecommunications and aeronautical sectors, we will see that the key to answering this question lies in the design of sectorial public policy, particularly in whether it grants a certain degree of discretion to the agencies involved. Precisely, therein lies the crucial difference between the com-petition authority merely intervening in a regulated market and actively overseeing the regulatory framework within it
Keywords:
Mercados regulados , potestades discrecionales , licitaciones públicas , intervenciónReferences
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