In this paper, we have analyzed the impact of intermunicipal cooperation on the price of drink- ing water paid by consumers. This study has been conducted using a comprehensive panel dataset covering French drinking water services between 2009 and 2021. Municipalities can provide wa- ter services alone or join forces. If they collaborate, they can form a syndicate which is a less autonomous structure. They can aslo transfer competence to a community which is a politically autonomous entity separated from the municipality. We find that when municipalities join com- munities, the price is lower compared to alone governance. When they join syndicates, the price is higher. We explain this by negotiation or political transaction costs when municipalities join syndicates. As for communities of municipalities and communities of agglomerations, cost savings and organizational economies of scale seem to be achieved.