Network throttling with chrome and selenium

Google Chrome 38 introduced the new "Device Mode & Mobile Emulation" functionality in devtools. In addition to choosing a device for emulation, it is also possible to emulate different network conditions:

Optimizing your site's performance under varying network conditions is a key aspect of developing for a mobile audience.

Device mode's network conditioning allows you to test your site on a variety of network connections, including Edge, 3G, and even offline. Select a connection from the preset dropdown to apply network throttling and latency manipulation.

For example, we can set it to be like in good old days - GPRS 50 Kbps:

Now we have a good use case for it - we have an internal application for network speed testing. And this new emulation functionality is very helpful for manual testing. But, we'd like to automate it.

Question is:

Is it possible to start chrome via selenium with specified network conditions? Is it something that can be controlled through chrome preferences or command-line arguments?

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There are certainly multiple options to simulate slow internet connection, but the question is specifically about chrome+selenium.