privatization (for fun and profit)

I was reading this morning on The Australian that power company profits are on the rise. While at the same time charges are going up.





Its good that public utilities which provide an "essential service" are able to make a profit, but if that is not being turned back into maintaining and developing the infrastructure for the community benefit then are they the right organisation to be entrusted with the operation of something which is regarded as an essential service?


Privatization is often cited as bringing a more competitive edge to the market, while the reality of the UK and USA experience has been that the companies involved just run the systems down to the ground (while making a profit) and the tab has to then be picked up by the public purse (in buy backs).

I wonder how far it will go before enough Australians are enraged by this?