Reading through the government's response [PDF] to the Royal Commission on Auckland Governance, I couldn't help but notice the summary table for decisions about water and wastewater on p. 29:
To interpret the bureaucratese, a CCO is a Council Controlled Organisation - effectively a local body SOE. It is clear from the footnote that the omission of that term or the reference to WaterCare in the government's decision is not accidental. The only possible interpretation is that they are actively considering privatising Auckland's water supply. They just can't help themselves, can they?