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{added} Kidding around with Roach aside, I think people in a geographic area would have a claim to water resources in the area, meaning that water resource should not be unreasonably withheld, but that compensation should be given to those who put work and effort into developing water resources
Read more: http://www.tfproject.org/tfp/tilted-...#ixzz0uwPlF7mS
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The ONLY way to do with is with strict government regulation. Ace you know I'm not a left-leaning person, but the great conservative thinkers (Jefferson, Teddy Roosevelt, Eisenhower) all believed that the only way to have an effective and un-rigged capitalist system is by strict regulation.
Water companies would have NO incentive to keep prices reasonable. They have a captive audience who can't simply reduce the amount they drink. They can't stop bathing for public heath and social acceptance reasons.