Correct me if im wrong but to affect this change wouldn't the supply companies only have to wind down the generated voltage at the (relatively) few power stations in the supply grid...
To a degree yes. However, when equipment is designed to do a job these days, under/over voltage generally causes overheating, loss of power etc.
I remember when I first started my apprenticeship, the first part of the workshop I frequented was the motor rewind shop. The motors were huge by today's standards. Massive shafts, lots of room in slots, easy to wind. I rememeber winding 5 t0 10 HP motors in 3 to 4 hours by hand.
Then the Siemens, Schach etc motors arrived from Europe.
NO FAT in the design. They had small slots, lots of kWatts of power for their size, small diameter rotors (no room to put your hand in). In fact, most of them were wound by machine. Got to a point that a 5 HP motor took 2 days to wind. Cheaper to buy a new one.
The biggest problem was that a 5 HP old motor would quite happily run at 15% overload and never fail. Overload one of thes "slim" design new babies by 5% and watch it self destruct. A lot of companies found out the hard way. It was like winding a 200 or 400 hZ job. They were very long and narrow in the slots (mining drills etc).
Quite frankly, there are a lot of trannies out ther that would have trouble being tapped down that far. Dropping the voltage from the power stations would also mean that all the generator systems would have to be altered.
Worse still, a lot of UPS units are designed to work within a few (relatively speaking) volts of 415. A lot of them would have to be modified/replaced also. Can you imagine the cost?
I am now an "old phfaardt" (relatively speaking). I do not believe it will happen in my time.