Privatisation of the Water Companies is a relatively recent event, I actually remember it happening (1989).
I also remember that discharges of sewerage into rivers and seas happened prior to 1989.
Yes - I also remember
but from what I remember part of the justification for the privitisation was that the new private companies would be better to run the modernisation of the system and fix all the problems caused by under investment by every government over many years
And if they manage to make a tidy profit at the same time then all well and good
Now - to be fair - they have stopped the interminable water main leaks and fixed a lot of problems with the supply systems and the water shortages caused by lack of maintenance at the reservoirs
but they were supposed to keep it all going and not concentrate on their own profits and bonuses once the bad publicity about leaks stopped!
BTW - as the climate seems to have changed and the water all falls in different places and at different times of the year - then I suspect they will need to be spending more on water supplies over the next few years on top of everything else!
bet they want an extra top up on the water bills for that as well!