Someone asked about using a 230 volt motor on a 208 volt circuit. A reply was that it should be okay because "most 230 volt three phase motors 5hp and under are designed to accept 208 or 230V..." Isn't it true that the only standard for any horsepower rating is that standard performance applies at a terminal voltage up to 105 below the nameplate value - which is this case would be 207 volt.
So 208 is okay, but according to utlity system standards the actual line voltage at the motor terminals for a "208 volt circuite" could easily be well under 200, which means the motor would then operate outside the standard conditions.
ANSI standard C84.1 does allow voltage at a load on any 208 volt circuit to go as low as 184 volts. Serveral slightly different limits are given depending on whether the system loads include motors or not. Equipment users should be careful with this because motor voltage influences starting capability as well as running performance.
Source: Electrical apparatus. June 2019