Antitrust and Regulation in the EU and US

Antitrust and Regulation in the EU and US

Legal and Economic Perspectives

New Horizons in Competition Law and Economics series

Edited by François Lévêque and Howard Shelanski

The diverse and excellent set of authors assembled in this book sheds light on the continuing and conflicting calls for deregulation and re-regulation of important industries and informs the ongoing, increasingly global, policy debate over the evolving line between regulation and general competition policy. The purpose of this book is to understand the debate and its policy implications, focusing on the traditionally regulated sectors of telecommunications and energy, and comparing approaches in the European Union and the United States.

Chapter 2: European Competition Policy and Regulation: Differences, Overlaps, and Constraints

John Temple Lang

Subjects: economics and finance, competition policy, law and economics, law - academic, competition and antitrust law, law and economics

Extract

John Temple Lang1 INTRODUCTION This chapter compares and contrasts competition law and regulatory regimes under European Community directives. It also considers some procedural and substantive aspects of the coexistence of national regulatory regimes with European competition policy and competition law rules. The chapter suggests, and explains, the following broad conclusions: ● ● Competition law and regulatory policies, whether EU or national, have different objectives, they are applied (in general) by different authorities in accordance with different procedures and on the basis of different analysis and different legislation, and they are subject to different constraints under EU legal principles. They may be subject to judicial review by different courts. They do not conflict, and in some situations they can be applied simultaneously and can bring about similar results. But it is incorrect to confuse them. Some examples of cases in which the Commission has exceeded its powers under competition law, to achieve essentially regulatory objectives, are given. The objectives of competition law in Europe are limited to preventing measures, whether private or governmental, which restrict competition unjustifiably. Regulatory regimes can be designed to promote a wide variety of objectives, subject to certain constraints. Some of these constraints are imposed by the European Community directives which harmonize regulation of certain industries, and which are intended to prevent, among other things, over-regulation. Other constraints, which also apply to national competition authorities, are imposed by generally applicable principles of European law. Broadly, these constraints are designed to 20 European competition policy and regulation 21 ● ● ● ● ● ● ● prevent protectionist...

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