Hmmmmm- - - - -
If it's producing that much voltage under load, it's doubtful there's much wrong with the alternator. Be sure the regulator base is grounded well, and the flickering might go away. I like to run a ground wire from one of the regulator mounting screws back to the alternator mount, or anywhere else on the engine, for that matter. Sometimes a flaky ground will do funny things to regulators. I remember one Dodge pickup that had normal charge voltage with the lights off, but went to over 16 volts as soon as the headlights were turned on. It seems that the regulator mounted on the firewall was finding a ground through the headlight filaments with the light switch off, but going full output as soon as the headlight current eliminated the ground path! A ground wire to the regulator base fixed that one.
Jerry
