In the red; insufficient power

I use a Panamax Maxx 1500 line conditioner for my source components (My power amp is plugged directly to the wall outlet). The Panamax has a row of LEDs across the faceplate, running right to left, red to green. Most of the day the Panamax reads down into the reds (danger; insufficient power). The LEDs are also marked to approximate the AC voltage, from 95 up to 115. It is only during the early morning or evening hours that the Panamax indicates sufficient power. I am guessing I need to hire an electrician to run a dedicated line to my listening room. Any other advice or observations? Thanks.
Before going that route, why not just check your line voltage with a multimeter; it could be the Panamax that is the issue.
What Viridian said. But also if the voltage is sagging coming into the place, no dedicated line is going to solve the issue.
You may have to raise hell with the power company to 'fix' the outside issue, or buy a voltage stabiliser (or regenerator), which will keep the voltage at 116V.
I would bet you have nothing wrong other than the strain the Hydro elec. Co is having from high demand during this heat wave.The added AC being used and the times of day you state would confirm that.

I was going to ask where you live, but- my guess would be the same as Has2be's.
Many Power Suppliers cut back the voltage (slight brown out) during peak usage hours to protect the grid, especially during a summer heat wave. This morning my house measured 115 VAC, during the heat of the day it was down to 100 VAC. Tonight, it's back to 115 VAC. As a side note, I thought the sound was slightly distorted during loud complex passages, so I shut my system down and jumped in the pool.
I don't know whether you have these meters yet in the States but here in Ontario Canada they installed "Smart Meters" in place of the old readers outside the home. Now they know how much usage of kilowatt/hrs you use at the specific time of day. The rates are set so costs for usage is based on a peak scales of "off peak hrs", mid peak hrs and peak hrs" during the weekdays and weekends and holidays remain off peak hours. They have a summer scale from May 1st to end of October. 7 pm till 7am is off peak at 5.9 cents per KWH. From 7am till 11am and 5pm till 7pm is mid peak at 8.9 cents per KWH . Peak is from 11 am till 5 pm at 10.7 cents per KWH. Weekends and stat holidays are all off peak at 5.9 cents per KWH.

In the winter off peak hours for weekends and stat holidays remains the same but mid peak becomes 11 am to 5 pm and peak hours increase from 7 am to 11 am and 5 pm till 7pm. This we are told is to take the strain off hydro usage for peak times on the grid.

For longer than I can remember we also have been paying a debt reduction fee that adds up to a couple of hundred dollars a year for every household and business in the province. This was to cover the mess that the then management of Ontario Hydro made by their inept and gross running of the system and to cover the million dollar pay offs they received to leave. Sound familiar? Maybe they retired and immigrated south to be bankers !
A dedicated line likely won't help unless there is very high currant draw on the line your using now .
Measured the power at the outlet with a multi-meter. 108.5 v. Is this voltage low enough to degrade the sound or cause long-term damage to my components? Many thanks!
It is only during the early morning or evening hours that the Panamax indicates sufficient power.
you mean "insufficient VOLTAGE (not power!)....
Bombaywalla, you obviously have too much time on your hands.
The problem is with your local electric company.

They will be hesitant to do anything if you tell them the low power is affecting the sound of your stereo.

They will be more apt to respond if you tell them that the low voltage could possibly destroy several costly items in your household, like the central AC or fridges and freezer.
Most anything electric with large motors suffer and works too hard, then burns out.

Years ago I sent a couple of new Meitner mono blocks back to ED because they shut off.

He checked them out, and no flaw with the amps.The protection circuitry was tripped due to low voltage.

The local electrical company scoffed that my Rat Shack volt meter was giving a true reading, but they obliged when I played the destructive low voltage card and did a voltage check over the weekend.

They were quite surprised after a weekend's worth of data, that the two readings, their pro one and the rat shack, were very close.

What they did was to install a new transformer outside on the power pole in place of an ancient one, that was well past it's prime.

That old transformer was good enough in the 1950's, but the sub division had a lot of new homes, like mine, that came with all the bells and whistles, and the need for constant correct voltage.

I am sure that most electrical companies share the same mindset.
Leave well enough alone, and if no one complains, keep the status quo, even if that is based on 1950's needs.