Sparky,
Your original post stated:
All other circuits in the 120/208V 3 phase panel showed normal fluctuations in voltage and current. The voltage was steady on the questionable circuit on the line side of the breaker, but fluctuated as described above at the receptacles.
This appears to m to be nothing more serios than some type of poor connection somewhere between the panel and the loads.
Don(resqcapt19)
