Bell-shaped brass fitting on the main line. Reduces municipal pressure (80-150+ PSI) to safe residential levels (40-60 PSI). When it fails, full pressure enters unchecked. Above 80 PSI stresses every connection, fixture, valve, and appliance. Accelerates cartridge and fill valve wear, causes hammer, dramatically increases burst risk. PRVs last 7-12 years before the spring and diaphragm degrade.