There are at least four types of disturbance on electrical power supply lines that might need attention, depending on how well the local utility company (and nearby electricity users) control their parts of the system.
I'll add a 5th to your list - which Modelworks mentioned: Phase overvoltage due to opposite-phase-to-neutral short-circuit or broken neutral. Electricity distribution systems tend to use either 3 phase, or centre-tapped phase distribution circuits. If a short circuit occurs between a phase and neutral, the neutral voltage will be pulled towards that phase. This will cause the voltage between an opposite or adjacent phase to increase.
E.g. if you have a 120 VAC centre-tapped circuit (like in the US), then if one phase-leg is shorted to neutral, the short circuit will pull the neutral to approx 60 V. The result is that the opposite leg will experience a voltage of 180 VAC to neutral. These over-voltage periods may last several seconds (or until the fault clears).
Even more severe overvoltages can occur in 'broken neutral' conditions (where the neutral breaks) and the return voltage is through the other phases alone. Worst case conditions in this circumstance is 2x normal voltage (and the fault time may be very prolonged)
This voltage
will not be protected by
any kind of surge protector. Only a voltage regulator device will offer any protection:
the type of regulator device could be either a ferroresonant transformer (a pure passive voltage regulator)
or an electronic UPS type device that will drop to battery when the mains AC goes out of spec (or a dual conversion UPS).
I'll also add a couple of extra points about types of surge protection. A 'surge' needs to be distinguished from overvoltage. A 'surge' is a very high voltage (1000 V +) which exists for a very short period of time (usually less than 0.01 ms). Causes include electric motors, industrial machinery, fluorescent lights and lightning strikes.
Most surge protectors work by shorting out an excessively high voltage. They will shunt the voltage to ground and/or neutral. Because a large current needs to flow to dissipate the surge energy, a good ground is required. This can usually be achieved by driving a 6ft copper rod into the ground and using that as a ground connection. Note that when using surge protection it is critically important that all devices are 'equipotentially bonded'. This is because the current flow into the ground connection will change the voltage on the ground connection. To prevent currents flowing through motherboard ports and electronic components. Every piece of equipment must have a good quality connection to the ground reference point.
There are surge protectors on the market that 'block' surges rather than dissipating them to ground. They are often marketed as having 'No MOVs' because they don't wear out like MOVs. However, caution is needed, as these 'series mode' or 'brick wall' type protectors offer absolutely no protection to 'common mode' surges. By and large, however, these surges are of relatively low energy, and most electronic devices are immune to them anyway. However, it's incorrect to say that just because a series mode protector has no MOVs, it has doesn't wear or burn out. Series mode protectors work by preventing the surge energy being dissipated in your equipment, by damming it up. This results in the very high surge voltage being present across a wire-coil inductor in the surge supressor. Under severe surge conditions, the voltage can destroy the insulation in the winding, destroying the surge supressor (potentially without indication).
My main concern with using a UPS type device in an area with highly erratic power is that there may be a large number of events which cause the device to trip to battery - in addition, good quality protection against surges is essential.
My personal feeling is that the reliability of electronic UPSs may be compromised - particularly if there are large numbers of power faults, and also if the climate is hot. It may be better to look into getting a good quality ferroresonant regulating transformer.
Ferroresonant transformers are basically a clever transformer design. Because they have inductance, they are extremely effective at 'blocking' surges, in the same way as 'brick wall' filters. They are also self-regulating, in that they produce a constant output voltage, even when the input voltage fluctuates - even a 30% over/under voltage should be regulated to within acceptable limits. They store resonant energy, so act like a very short term UPS (about 0.1 seconds - which accounts for a significant proportion of power interruptions, e.g. due to a temporary short circuit, or a power switch transferring to another power source). Because they are pure passive devices (no electronics, motors, etc.) they are extremely tough and extremely reliable.
Ferroresonant transformers are also low-tech, so cheap and readily available. In fact, I'd bet that your 'voltage regulators' are probably ferrorresonant transformers.
My advice would be to:
1. ensure the facility has a decent ground - if not install a good ground rod, and ensure good quality ground connections to all electrical equipment. Ensure all computer devices are equipotentally bonded.
2. Install a ferroresonant transformer which will provide voltage regulation, surge protection and ultra-short term energy storage.
3. Install a UPS device (after the transformer) for battery backup.