We study the impact of utilities regulation, specifically electricity, gas, and water. In many countries, the electricity sector is a focus of environmental policy on the producer side and of regulation and competition policy on the consumer side, leading to rapid and sustained change in wholesale and retail electricity markets. We contribute to the understanding of the dynamics of wholesale electricity markets that, as a driver of retail electricity prices, directly affect consumers. A central measure to understand this linkage is the rate at which suppliers pass through input cost shocks to market prices. We extend the literature on pass-through in wholesale power markets with a focus on changes in pass-through in the context of a rapidly increasing share of renewable generation capacity. Taking up the debate on privatization and re-communization in the German water sector, we analyze the distributional consequences of different regulatory and institutional regimes. Comparing the price setting behavior of privatized and state-owned water companies under price regulation, we characterize and empirically identify potential winners and losers from re-communization.