Oh dear.
Real life is much more nuanced than good guys v bad guys.
Labours model was nationalised power burns nationalised coal transported by a nationalised railways. They banned using gas for power generation because they were in thrall to the miners union. It was becoming clear that coal was problematic (acid rain in Scandinavia) but the model was entrenched for political reasons, even though gas was abundant, cheaper, faster to construct, more energy efficient and environmentally superior.
We were about build to 4 coal fired 850MW units, they were fully consented and construction offices and cabins were on Site.
Privatisation stopped this nonsense and the dash for gas followed in the early 90’s - massively reducing costs and carbon emissions. Politics interfered, first under Major who made sure our Generators were shrunk in size for “competition” reasons and then Blair removed the Government’s “Golden Share” (put in place by Thatcher to protect UK ownership) which enabled our weakened Companies to be gobbled up into foreign ownership (with the only exception being British Gas/Centrica). Privatisation was right and hugely beneficial. Politicians fucked it up and now Miliband is gleefully digging its grave - he will condemn the Country to a bleak future of power outages and rationing, fuel poverty, almost total deindustrialisation, leading to inability to fund defence, borders, health and welfare. All for less than 0.9% of global emissions ! Mad.
Water is a natural monopoly and privatisation was a mistake- a better answer would have been a “thin client” model combined with market expertise.