The article addresses the crises of water governance experienced since 2014 to date in the metropolitan regions of the State of Sao Paulo, Brazil. We highlight the conflict between the use of water as a private good promoted by the water and sanitation utilities and the limitations of the discourse of the right to water. We also consider the socio-environmental vulnerability, inequality and injustice related to the access to water services resulting from the crisis. The paper discusses the appropriation of water in capitalist society, the classification of water as common good, public good, and commodity, and the lack of definition of priority water uses in the relevant urban legislation.