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The Guardian view on privatisation: the god that failed

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Three ghastly faces of the UK’s privatised economy have been on show this week. On Wednesday, the energy regulator, Ofgem, was judged guilty of adding £2.7bn to household bills because it was so keen to create a competitive energy market that it did not properly check the slew of shaky outfits setting up as suppliers.

Now that 28 providers have collapsed, such light-touch regulation is producing costly chaos – not only for customers of Bulb and the others, but for everyone, because we will all foot the bill.Earlier, Anglian Water announced that it would pay a £92m dividend to investors, despite the Environment Agency fining it for water pollution on three separate occasions in the past few months.

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