There are solutions to monopoly:
There is no reason why it is preferable to give, for example, profit to a utility monopoly than it is to pay the government directly as a non-profit. To use taxpayer dollars to audit and regulate a for profit monopoly is paying double.
If the government creates a monopoly the government should provide a non-profit alternative. If business can do better, please, do better. For example government forces drivers to buy auto insurance. Why doesn’t government provide non-profit car insurance? Same with health insurance, or legal services, or electricians and plumbers and carpenters.
If you are required to have a license to do work why can’t the government provide the standard for that work? Competition. Education is the prime example of this. Let people make schools and allow the free market to make better, competitive, schools. All the while the government sets the example with free public education, but without the unfair advantage of everyone paying for one school but not the others. Fair non-profit schools run by the government can compete with for profit schools all of whom receive the same tax dollars per student. The winners are the students who get a better education.
Utilities are a bit different, of course, since they are the only ones allowed in an area. So the government should run them as a non-profit. There is no way to make a parallel utility, but allow all sorts of off-the-grid alternatives.
It all depends on complete transparency and complete fairness to everyone, whether they are a government employee or not. That is one libertarian take on the subject.