Flow regulation is widely known to modify the thermal regime of rivers. Here, we examine the sensitivity of an empirical approach, the Equilibrium Temperature Concept (ETC), to detect both the effects of hydraulic infrastructures on the annual thermal cycle and the recovery of the thermal equilibrium with the atmosphere. Analysis was undertaken in a Pyrenean river (the Noguera Pallaresa, Ebro basin) affected by a series of reservoirs and hydropower plants. Equilibrium temperature (Te) is defined as the water temperature (Tw) at which the sum of all heat fluxes is zero. Based on the assumption of a linear relationship between Te and Tw, we identified changes in the Te–Tw regression slope, used as an indicator of a thermal alteration in river flow. We also assessed the magnitude of the alteration by examining the regression slope and its statistical significance. Variations in the regression parameters were used as indicators of the influence of factors other than atmospheric conditions on water temperature. Observed Tw showed a linear relationship with Te at all river stations. However, the slopes of the Te–Tw relationship appeared to be lower in the reaches downstream from hydraulic infrastructures, particularly below large dams. A seasonal analysis indicated that Te–Tw relationships had higher slopes and lower p‐values during autumn, while no significant differences were found at other seasons. Although thermal characteristics did not strongly depend on atmospheric conditions downstream of hydraulic infrastructures, the river recovered to pre‐alteration conditions with distance downstream, indicating the natural tendency of water to attain thermal equilibrium with the atmosphere. Accepting associated uncertainties, mostly because of the quality of the data and the lack of consideration of other factors influencing the thermal regime (e.g. discharge), ETC appears to be a simple and effective method to identify thermal alterations in regulated rivers. Copyright © 2015 John Wiley & Sons, Ltd.