Maybe you weren't born when this was going on, but "prices were cheap" is idiotic. British leyland, British steel, etc etc were some of the most loss making, unproductive industries. If by "prices were cheap" you mean "were massively subsidized by the government so we were paying through the nose for them anyway", then agreed.
Look at the 1970s. Strikes. Union action. Rubbish piling up on the streets, and power cuts. That is what nationalization means.
Since privatization, how many times has your water supply or energy supply failed?
Even the worst privatization (British Rail) is arguably far better than it was before privatization.
One of Thatchers biggest achievements was to take on the millitant socialist unions, and she won. Overwhelmingly. She set us free from their grip.
"Profit" shouldn't be a dirty word. I love companies to make profits when they provide a good service. What I dislike are millitant unions striking for endless pay and pension increases, whilst at the same time providing a horrible service.
I hate to descend into politics, but you are presenting as "fact" what is actually a very biased and extreme left wing view, which thankfully is pretty outdated in the UK now.