A system and method for regulating power consumption within an integrated circuit (IC) with a modular design. The IC is designed so that any one distinct functional module within the IC utilizes only transistors with a substantially same or similar critical voltage level, which may for example be the threshold voltage of the transistors. Consequently, the supply voltage delivered to each functional modules can be lowered to the minimum voltage necessary to enable the transistors within the module to operate. Similarly, modules within the IC may be designed with transistors which share a common value for a substrate bias voltage or a clock speed, or with a combination of common values for several electrical factors. In this way, it is possible to reduce power consumption by fine-tuning the voltages supplied to (or clock speeds driving) specific modules, in a way which is custom-tuned to each module.