The main issue here is that we privatised our critical infrastructure for a few short term quid, and handed over the reigns to some clever investment bankers who proceeded to - shock - make profit their singular aim. Oh sure there are rules, but the power is already been seeded.
Beckton is a token gesture, a hint that they do know what they ought to be doing, but why should they care.
Government have never been as strong or as clever as the bankers. OfWat, or any regulator come to that is hopelessly outmanned. We just exposed the banks as cheating liars, bailed them out, and now we all go back to sleep.
But at the end of the day we voted for Thatcher and got privatisation, and a few cheap British Gas shares. We were the greedy ones.