A corrupt state-enforced monopoly with zero oversight, absolutely no shame even when called out on it, and a bunch of companies (each given their own guaranteed monopoly over an area of the country with no opportunity for ANY customer to EVER change suppler) who took all the money destined for investment in their water network, gave it to shareholders, ramped up billions in (unpayable debt), gave that to their shareholders, begged the government for money, gave that to shareholders, asked for bailouts to avoid going bankrupt, gave that to shareholders, and then had the cheek to literally lobby - in the full press direct to government - that they had to repeatedly pay their CEOs huge bonuses and shareholders even more payouts or they'd go bankrupt.
And the government / regulator literally just kept saying yes every single time. In fact, they just allowed all the water companies to DOUBLE their prices very recently (after all the above scandals) in order to... pay the water companies to invest in their infrastructure. Guess where that money's going? There have already been a dozen news articles this year where places like Thames Water basically tell Ofwat (the regulator) "Thanks, we're going to award that as a bonus to our CEO... oh, look, sorry, we can't invest as we have no money again!".
Meanwhile, LITERALLY EVERY SINGLE RIVER in the UK is polluted by the same water companies way above legal limits, every beach too, no investment has been made in reservoirs etc. since they were privatised (not one of the things "invested in" ever came online to date), almost no money was spent on maintaining, upgrading or improving the water networks, and a dozen companies all over the country all colluded to basically do the same so the regulator "rewards" the one who wasn't quite so corrupt.
The water industry in the UK is so atrociously corrupt that it's aboslutely laughable that the government haven't just ripped it down and restarted it, even just for the look of the thing. They've said they'll "look at" the regulator's role, but it's up to the water companies to behave, and that it's up to the water companies to even TEST and REPORT their own sewage spills into the rivers and lakes and beaches of the UK, like they've been doing for 30+ years.
It's probably the biggest political scandal currently taking place in the UK and everyone in government is just ignoring it.