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Before giving up on your old VR you might try repairing it, it seems the most common failure point is the output transistor (although they do tend to cause the voltage to go high not low), they are fairly easy to replace just a couple of screws holding them down and a couple of solder points...

We need a bit more information, where are you testing (output lugs, outlet, before the breaker, panel, etc), how are you testing (panel meter, multi meter, etc), etc. Do you really mean no electricity or just VERY LOW electricity. (like 5-10 volts AC...) Ike