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Yes, Ford has been using internally regulated alternators since sometime in the 80's or so, maybe earlier.
Having said this, the voltage surge may not be the alternator (or alternators). One of your batteries could be having a problem, causing the incorrect voltage reading, or a ground may be loose somewhere, also causing an incorrect reading.
The surge in voltage means you do have a problem, just be careful about declaring what the problem is without doing a little troubleshooting first.
Pretty sure the regulator is on the back of the alternator and easily removed (as long as the screws didn't corrode too much).
And like redford said, make sure it's really the alternator/regulator first.
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One thing I've noticed about Ford alternators (the 3G) with their regulator.
If you have a bad diode (or more than one) in the alternator itself, it'll freak out the regulator and sometimes cause it to peak like you're seeing.
I've had it do this myself on my '96 t-bird.
- Alternator was pegging the voltage randomly.
- Changed the regulator.
- Still happened a week later.
- Changed the alternator for a "rebuilt", used old regulator, still in the car working 5 years later.
My '96 t-bird uses the same regulator as my 2001 V10.
Well, I pulled the alternator (1999 PSD f250), and took it apart. I checked all 8 diodes, which checked ok. I then noticed that the two leads which follow the copper coated shaft. One of the leads was a little off, and was machining itself down, leaving a lip which went onto the inside portion of the alternator shaft.
I reshaped it, and took off the black residue on the copper.
Tomorrow I will reinstall the alt and see what happens!