Let's say your M/W is running at 1,000 watts. The generator is putting out 97vac. That's about 10 amps that the M/W is using. The A/C is simply pulling more amps therefor the generator has to run at full power to keep up with the demand. 2200 running watts divided by 124 volts equals about 17 amps. That's about what most A/C units draw while running. I can't say what the "imaginary" voltage might be
since I can't "imagine" what the amp draw is.