This paper proposes a novel approach for voltage control in 3-phase unbalanced distribution systems. The approach is based on the change of the magnetizing reactances of the voltage regulators in the system. We used an augmented Lagrangian-based optimization model to determine the optimal settings on a modified IEEE 123 Bus Test System with large PV penetration. Simulations were performed on a minute-based resolution either by controlling regulators or by controlling the magnetizing reactances of ...