It does, AFAICT, there is no competition in infrastructure or supply. There are only targets to meet on service standard and agreed price levels with the state.

The companies seem to operate on a model of doing as little maintenance as they can get away with while taking on debt and paying out to shareholders and the C-suite whenever possible. This has been done in complicity with the regulatory body who wanted to keep bills as low as possible for as long as possible, so played along with the zero-investment model.

It is a clusterfuck.