Hi
To provide a definitive answer, first if you want to take all the tolerances one way do not forget the 1.2V drop caused by the bridge rectifier.
I have two Time Electronics 2003 voltage standards which use the PU2 power supply as does the 509N. When used in a 2003 the PU2 output fuse is 500ma and when used in a 509N it is 1A, this is the ONLY difference between the two uses.
I have previously provided the Time Electronics schematic for a PU2 supply, it clearly shows the secondary voltage of the mains transformer as 12VAC, both of my 2003’s have 6VA mains transformers with a 12VAC secondary output voltages.
It looks safe to assume that the correct mains transformer secondary voltage should be 12VAC NOT 2 X 7.5VAC in series giving 15VAC, has the mains transformer been replaced in the past with an incorrect one?
Off charge the NiCad pack gives exactly 14VDC, with the mains supply in use the output of the PU2 is, as the test label indicates it should be, 16.4VDC.
A word of warning, be very careful when replacing the PU2 metal cover, it readily shorts out the power supply output. Also keep in mind that switching the 509N off on the front panel leaves the mains applied to the PU2 supply.
G Edmonds