Abstract: An alternating current voltage regulator is provided which clips the maxima of the positive and negative portions of the incoming alternating current wave form at a regulated level thereby producing alternating current output wave form, and which varies the regulated output voltage level in response to changes in output current. The preferred regulator includes two electrically independent regulating sections, one for clipping the positive portion of the alternating current wave form and the other for clipping the negative portion of the incoming alternating current wave form. Preferably each independent regulating section includes means for sensing the positive and negative portions of the output current respectively and for varying the regulated level of the positive and negative output voltages respectively in response thereto. A second embodiment is illustrated using the amplifier as part of the current sensing means for use with high load current applications.