Voltage Regulator on 2002 WRX

When it gets cold (10 - 20 deg.F) starting car in the morning noticed that voltage gauge jumps up to 16V (actually observed 16.7V !). As car warms up,
it drops down to 13.7 V at normal driving revs and then behaves. I don't think that car's electronics appreciates seeing 16V+ even for 3-5 minutes. Did anybody experienced similar voltage regulator behavoir, or should I bring dealer's attention to such phenomenon?
Dave
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Does the "charge" lamp illuminate in the instrument cluster? It's supposed to go of when the voltage is excessively high (defined as >16V in the service manual). Where does the voltage gauge measure voltage - is it directly across the battery terminals? What do systems in the car see? (use a multimeter and measure voltage from a switched power lead to ground - see if it's actually that high) Is the electrolyte in the battery foaming over? Are you certain the gauge is accurate?

up,
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