Suggestion to the original posting: The power factor will be changed marginally by balancing the utility load. However, the utility load on the primary distribution level is essentially balanced three phase load. The imbalance is very small or negligible. The larger imbalances are caused by faults that cause trips. When it comes to single phase loads, e.g. motors, there is some potential change in the voltage unbalance by changing the power factor, i.e. reversed way than indicated in the original posting. If the single phase motor current is reduced by a power factor capacitor compensation, the current from the power source decreases and the voltage at the power source increases in that phase. Also, the single phase VA power being drawn from the source is decreased. Similar reasoning can be applied to the three phase motors, namely, the voltage unbalance causes the motor individual line power factor to be different. The balanced voltage source implies the power factor in each phase to be the same.