I think it's the law that's the safeguard. The Telecommunications Act requires the CRTC to regulate, except where there is sufficient competition to protect users. The law is not changing, so where there isn't competition, the law requires the CRTC to continue to regulate. I don't know why consumer groups would think the CRTC is going to abandon its responsibilities under the law to do so, because it's the law that requires them to.
On February 14th, 2007. See this statement in context.