How does double paned window glass regulate indoor temperature?

Double pane glass are passive items, they don't "do", or regulate anything. But doble paned Windows are better insulated than single paned Windows, which means it'll be easier to keep the room/house at a steady temperature.

The space between the panes is filled with an inert gas - instead of air. This provides a 'barrier' to slow down the escape of heat from the room. Additionally, the panes are often coated with a microscopically thin layer of reflective material to help retain the heat inside the building.