The National Authority for Markets and Competition (CNMC) had its first year in 2014. We started working at the end of 2013 to integrate competition and regulation into a single agency in order to exploit the benefits deriving from the existence of comparable supervision duties, similar methodologies and procedures, and, above all, the knowledge, expertise and experience that could be pooled together. Coordination between different departments (telecoms, transport, energy, postal services and competition) prior to taking decisions on how to tackle a competition or regulatory problem is a great opportunity for achieving optimal solutions to complex problems. Taking into account lessons learned from competition cases should allow us to improve the quality of ex ante regulation. Competition cases and regulatory design benefit from having a multidisciplinary team working together in regulated sector files and the same decision body overlooking the work of all departments, reinforcing coherence and ensuring the soundness of decisions. The new CNMC is therefore more capable of preserving and promoting effective competition in all markets. In fact, the model of integrating competition and regulatory authorities could increase competition in regulated sectors (furthering liberalisation) and reduce the risk of diverging opinions and resolutions. On top of that, the CNMC inherits the knowledge acquired during 50 years of competition enforcement in Spain since the Act 110/63 of 20 July 1963 prohibiting Anti-Competitive Practices was adopted.