Ghost back to your OP,
I wonder how long you let the van idle for before you took these measurements?
What was the state of charge,
how much do you use it?
When did you last charge or trickle charge the battery?
I don't need to tell you that If there is any significant charging current the resistance of the wires will give volt drop.
I just did the same test but I have had my van on charge overnight because I haven't used in for 2 weeks, the charger soon went to trickle charge after a couple of hours so the battery levels are good.
Immediately after start up and after the split charge relay connected I saw about 13.1V on the leisure batt voltmeter but it soon climbed after a few minutes to the figures below presumably because it was well charged so the current flow soon dropped off.
I suspect my drop from alt to batts is mainly due to ignition current, as I rev this voltage drops a little as the coil draws more current.
I'm going to do this again after the van has been standing unused for a week or so and see how it compares.
I should add the regulator is also 14.5V and new, fitted by the company who did the bearings so it may be a cheap and nasty one as its reading low, any reccomendations for better quality 14.5v regulators greatfully recieved
