On paper the whole Privatisation idea was made to look like a good deal for joe public but over the years the regulatory side of it has been allowed to soften to the point where it seems most are more interested in cosying up to the bodies they are supposed to be regulating.
Of all these rogue regulators the worst appear to be OFCOM, the Energy Reglator and of course The Financial Services Authority. All of whom are only rarely roused and only appear to give lip service to the most blatently outrageous excesses. Lets not forget the 'up to' scam and the 'unlimited' scam from ISP's or the equally blatent and outrageous price 'fixing' by the power suppliers. All of which have been given the green light in the past or else erring Companies have been encouraged to operate a 'voluntery code of practise'.