Teresa Ribera, a climate expert from Spain, is set to become the EU’s second most powerful woman in Ursula von der Leyen’s new College of Commissioners. Initially considered for the competition portfolio, Ribera’s limited experience in competition law raised concerns. However, von der Leyen sought someone who could embody the influence and recognition Margrethe Vestager brought to the position. As Ribera lacked experience but had charisma, she was seen as a prime candidate for the role.
Although known for her environmental expertise, competition law represents a new and complex challenge for Ribera. One of her main challenges will be navigating recent EU Court of Justice rulings restricting the Commission’s authority in antitrust matters, particularly regarding mergers. The Illumina-Grail merger decision has limited the Commission’s use of the “killer acquisition” tool. Von der Leyen has tasked Ribera with modernizing competition policy, including a review of the Horizontal Merger Control Guidelines and addressing risks of killer acquisitions.
Prior to her appointment by von der Leyen, Ribera was serving as Spain’s Vice President and Minister for the Ecological Transition and Demographic Challenge. She was already working on keeping her country on track for the 90% emission-reduction target by 2040 under the European Climate Law. Ribera is expected to continue the work on the European Green Deal and transform it into a Clean Industrial Deal. She is seen as von der Leyen’s likely right-hand woman, taking on responsibilities from Vestager and Timmermans in the previous executive.
Ribera’s experience includes working at international institutions like the United Nations and the World Economic Forum, where she played a key role in negotiating the Paris Agreement and the UN’s Sustainable Development Goals. She has been a vocal opponent of fossil fuels and nuclear energy, gaining prominence in Brussels during talks on reforming the EU energy market. As she transitions into the competition portfolio, Ribera will also handle platform economies and enforce actions under the Digital Markets Act, with responsibilities in the digital economy shifting to Henna Virkkunen.
With calls to re-open the EU’s merger rules, von der Leyen has asked Ribera in her mission letter to focus on modernizing competition policy and developing a new state aid framework to complement the Clean Industrial Deal. This includes a review of the Horizontal Merger Control Guidelines and addressing risks of killer acquisitions. Ribera’s appointment as the competition chief is seen as a significant move by von der Leyen, as she seeks to find ways to uphold antitrust laws while promoting competition and innovation in the EU market.
In conclusion, Teresa Ribera’s appointment as the EU’s new competition chief signifies a shift in focus towards environmental and competition policy. Her background in climate expertise, coupled with the challenges in competition law, will test her abilities as she navigates a new role. With a focus on modernizing competition policy and addressing challenges in mergers and state aid, Ribera is poised to make an impact in shaping the EU’s economic landscape. As von der Leyen’s likely right-hand woman, Ribera will play a significant role in driving the EU’s agenda forward.
