I'm assuming you're taking into consideration the fact that there is no carrier in SSB, whether USB or LSB. You have to use a good PEP-indicating meter; the usual average-indicating meter just can't move fast enough to keep up with voice peaks.
A PEP-indicating meter will have either an internal power source or will be powered in some other way. Either way, measure the PEP output into a dummy load on both USB and LSB. If there's a difference, I'd look at the balanced modulator - which may have become a little UNbalanced.




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