Globally, there is an increasing consensus around the need to realise deep transformations invital sectors of society such as those related to urban water supply and energy, particularly in cities where the largest share of the global population is living. Taking the example of recent changes in energy requirements for buildings in Sweden, the government has proposed that, by 2021, all new houses shall have” near zero” energy demand, which for a multifamily house in Stockholm translates into a primary energy demand of 85 kWh /m2 per year. This has generated a new kind of niche experimentation in the building sector that cuts across traditionally disconnected domains of innovation around water and energy. For example, technologies around greywater re-use and heat recovery from wastewater have become associated with reduction in water use and important energy gains. These innovations propel private users and organisations - notably in the real estate sector - towards new investments as part of realising ambitious energy and water targets. As end-users of networked water and energy services, actors make technology-decisions that save energy, water and reduce their dependence on centralised network providers. But this also causes negative commercial and physical effects on the established networked configurations of water and energy, in the form of reduced economic revenue, less heat circulation, and colder wastewater causing problems in the treatment plants. In our study we focus on the winnersand losers of energy and water transition in Sweden, to learn about how transition in energy and water is evolving and why it is being negotiated along particular trajectories by a range of relevant actors.