I just bought a 5amp 220 to 12v power supply to power my field charger and lipo charger at home. When I use my voltmeter I am gettting a reading of about 16.8 volts from the power supply. My lipo charger which only works to 15volts gives a warning light when it is plugged up.

Is this normal for the voltage to be this high on the power supply or do I need to take it back?

Its abit high, sometimes there is a trim pot inside that you could adjust, but as its new I would take it back as that is not very good regulation if it supposed to be a 12v power supply.