Originally Posted by MuddauberE
Ha! Sounds like to me they fixed something
View a wire from the pole's top to the transformer. Follow that wire back to another transformer. That is where your voltage is regulated. Inside, it changes taps (adjusts voltage) so that yours remains around 120 volts. Doing many adjustments daily.
Voltage that high is not great for appliances. But will not cause damage. However incandescent bulbs would be failing at well less than half their rated hours.
Key is whether bulbs change intensity when major appliances power cycle. In most cases, this is an interior wiring problem. In rare cases, this is a major human safety issue. For example, fortunately no one was home when that fault caused a gas meter explosion.
But a constant high voltage is a problem at that transformer far from you house and often surrounded by a very high chain line fence.