I cannot explain why a bad neutral causes high voltage. I am not an electrician nor an EE. Here is one quick explanation:
Hazard of Open Service Neutral
"If the grounded (neutral) service conductor is opened or not provided at all, objectionable neutral current will flow on metal parts of the electrical system and dangerous voltage will be present on the metal parts providing the potential for electric shock. This dangerous electrical shock condition is of particular concern in buildings that contain swimming pools, spas and hot tubs.
In addition, when the grounded (neutral) conductor from the secondary of a transformer is open or not present, the operating voltage for the loads on one line will rise, while the operating voltage for the other line will drop. Another hazard exists from over or under line voltage, and that is a fire from excessive heat."
I do know that when we lose a neutral one leg of our power is very high and the other is very low. Maybe one of the electrical gurus can give us a layman's explanation. Mexwanderer????
Moisheh