Having been in the electrical biz over 30 years I have seen my share of what can happen with loose phase conductors and with loose neutrals.
A friend's dad had a house at the beach and gave me the key and asked me to find out what was causing the lights to dim on one side of the house at night. He said take your family too and spend the weekend. First night, sure enough the lights would dim and come back up.... meter on the bus bars showed a voltage dip. I called the power company and they arrived and cut the meter seal. We shined a light in and saw the lugs were fried. We opted to leave it be and secured the cover again. Removing the meter would have meant the lugs would have crumbled off, and it would have been lights out for the house. We figured the wind changing direction at night was blowing the wires and moving them in the service drop just enough to affect the lights in that side of the meter. Since I was not local, I recommended my friend to get a local electrician to replace the meter. He gave me the key to the house again a few weeks later and asked me to replace the outlets in the house and take "all week" to do it....
I've had several memorable "floating/loose neutrals". Things were burning out in the one house...fridge, lights, TV's but when the range or the AC was on things would level out. Seems a jackleg did some work and used a 1/2" romex connector to secure the neutral at the top of the weatherhead.... obviously not a city power company job.....
On another, we wired a house and 2 days after they turned power on, the house exploded and burned. Insurance paid off, they didn't investigate beyond assuming that the wood preservative the owner sprayed inside on the cedar caused the explosion due to a spark..... they never found out what sparked. So the owner/builder decided to rebuild in the same place. Again, I was the primary electrician wiring the house. We got inspections and turned on the power. Next morning, the owner called the shop to say he smelled something burning..... we hustled over there immediately and pulled the panel covers off the 400a service panels....
95v on one and 145v on the other phase to ground... I called the city and they came round and after looking at the panels and measuring, they said it was in my wiring. I disagreed, and asked them to humor me.....and had the crew cut the wires loose from the house at the in ground pedestal. I asked them to meter their unloaded transformer feed. 95/145... just like in the house.... after a few choice words, they called for a thumper and a back hoe. Three hours later they had found and repaired the aluminum feeder 6 feet down in the next door neighbor's front yard.
they gave me the section of wire they cut out.