So apparently I need to explain this thoroughly. Here we go. Much of this is meaningless in standard play anyway because to actually notice this behaviour you have to deliberately flood or overload a power line. If you want to test this, the best way is to connect 8 high-end solar panels to a Mass Fabricator, then insert a transformer and watch the speed of the MF drop accordingly.
As a rule with IC2 power, power isn't drawn from a source until it's needed for something and it can only draw as much as it can find from directly connected sources.
For input to a transformer, as with any other object that requires IC2 power to do anything, the transformer will absorb as many packets as it can find in a single tick until its internal energy buffer is full. If it can't fill its buffer it doesn't matter. The buffer is roughly equivalent to 8 output packets of whatever size the transformer is designed to output. The transformer, like every IC2 block, will try to fill its internal buffer as long as it's not full and is able to find power.
For output, the transformer will transmit as many packets as it needs to from its internal buffer up to its maximum size. It will output every tick so long as something connected to it requires energy, but only as much power as is needed to supply every connected machine, assuming it can satisfy them all. Although it can recharge every tick, it's still limited in each tick to whatever amount of power is stored in the buffer. This is how a poorly positioned transformer can accidentally cripple a power line by throttling the amount of power you can send down it. You're more likely to cripple a power line by using poor quality cable, though.
In practice, provided you either don't flood the cable with excess power (which only GregTech's Fusion Reactor can actually do; the rest of IC2 and its addons are very carefully designed to avoid any power leaks whatsoever) or you don't overextend the limits of a transformer's buffer, you will never notice its throttle effect on your grid, but it's there.
GregTech Fusion Reactors dump 1 000 000 EU/p into attached output cables as soon as they have 1M EU stored internally. Whether you actually get all of that million EU out of your system depends on whether you attach enough transformer buffers to the system or not to process the power as fast as it's being supplied. If you don't do this, it'll get wasted in the cable. The only other power supply that burns excess power the same way is the Nuclear Reactor but because a single HV transformer can cope with its output 99% of the time you never notice!