Electromechanical

Electromechanical regulators called voltage stabilizers or tap-changers, have also been used to regulate the voltage on AC power distribution lines. These regulators operate by using a servomechanism to select the appropriate tap on an auto transformer with multiple taps, or by moving the wiper on a continuously variable auto transformer. If the output voltage is not in the acceptable range, the servomechanism switches the tap, changing the turns ratio of the transformer, to move the secondary voltage into the acceptable region. The controls provide a dead band wherein the controller will not act, preventing the controller from constantly adjusting the voltage ("hunting") as it varies by an acceptably small amount.

Constant-voltage transformer

The ferroresonant transformer, ferroresonant regulator or constant-voltage transformer is a type of saturating transformer used as a voltage regulator. These transformers use a tank circuit composed of a high-voltage resonant winding and a capacitor to produce a nearly constant average output voltage with a varying input current or varying load. The circuit has a primary on one side of a magnet shunt and the tuned circuit coil and secondary on the other side. The regulation is due to magnetic saturation in the section around the secondary.
The ferroresonant approach is attractive due to its lack of active components, relying on the square loop saturation characteristics of the tank circuit to absorb variations in average input voltage. Saturating transformers provide a simple rugged method to stabilize an AC power supply.
Older designs of ferroresonant transformers had an output with high harmonic content, leading to a distorted output waveform. Modern devices are used to construct a perfect sine wave. The ferroresonant action is a flux limiter rather than a voltage regulator, but with a fixed supply frequency it can maintain an almost constant average output voltage even as the input voltage varies widely.
The ferroresonant transformers, which are also known as Constant Voltage Transformers (CVTs) or ferros, are also good surge suppressors, as they provide high isolation and inherent short-circuit protection.
A ferroresonant transformer can operate with an input voltage range ±40% or more of the nominal voltage.
Output power factor remains in the range of 0.96 or higher from half to full load.
Because it regenerates an output voltage waveform, output distortion, which is typically less than 4%, is independent of any input voltage distortion, including notching.
Efficiency at full load is typically in the range of 89% to 93%. However, at low loads, efficiency can drop below 60%. The current-limiting capability also becomes a handicap when a CVT is used in an application with moderate to high inrush current like motors, transformers or magnets. In this case, the CVT has to be sized to accommodate the peak current, thus forcing it to run at low loads and poor efficiency.

vladimir wrote:I spoke to an electrician who qualifie din the UK. He was under the impression that low voltages will NOT increase your bill.

Before you go spending dosh try and electrical engineer forum as Milord suggested.

http://www.electriciantalk.com/f25/