My calculations suggest that you should be expecting much, much more power than you indicate.
(head in feet) x (flow in gals. per sec.) x (efficiency of turbine) / 11.8 = kw
420 (feet) x 2 (gals. per sec.) x .8 (pelton efficiency) / 11.8 = 56.9492 kw
Assuming a generator efficiency of around 30% that would equate to 17 kw.
Assuming additional losses like penstock frictional losses, poor nozzle aiming, the slightly damaged runner, parasitic losses (field current), I could see this number reduced by as much as half.
Still...I'm thinking around 9kw. Part of me says this cannot be right, but then 420 feet of head...WOW...and 120 gpm.
My numbers must be wrong...they probably are, but these meager outputs you describe gotta be way off. This is definitely NOT a electrical line loss issue if my power calculations are even close to being right. I can give you exact calculations for line loss and all of the electrical side stuff. I need to know how to calculate the hydro side correctly if I'm wrong before anything else.
BTW...I never did understand why everyone wants to use auto alternators...give up way too much for the convenience of being easy to obtain etc.