In one example, a method includes operating an LDO regulator system in one of a voltage regulation mode or a power balancing mode. The method further includes comparing one or more respective reference voltages to one or more respective feedback voltages to determine a change in amount of current that needs to be delivered by the LDO regulator system, wherein a first reference voltage is across a reference resistor and a first feedback voltage is across a shunt resistor, and in response to the change in the amount of current that needs to be delivered by the LDO regulator system, adjusting an amount of current flowing through a transistor to maintain a load at a constant output voltage level. Circuits and systems that implement the method are also described.