That’s a wrong assumption. Many people believe that.
Explain how low voltage will increase revenues?
The last paragraph is where CVR is important. Peak times only
Low voltage to a motor means motor draws more current to do the same work.
More current over same size conductor increases line losses, that is real power losses. If during the winter may not be much of a loss at all, will just lessen demand on the heating system. During cooling season means more heat for cooling system to have to remove, which also may have increased losses in it's supply lines if voltage is low.
If a resistance load - typically something that heats, higher voltage just means it gets the job done faster, even if just slightly faster and not very noticeable to us people. Utility still billing for watt hours, watts go up slightly, hours go down slightly work done was still the same plus or minus line loss differences.
Most cases all this is kind of negligible though for an individual user. with large users or over the entire POCO network those issues can add up, or take away whichever applies.