The voltage levels went up. Years ago (50) the standard voltage going into most homes was 110 volts and 220 volts, depending if you were measuring across the two legs or from one leg to ground.
Today, the voltage has pretty much standarized on 240/120 volts. Modern appliances are designed for the slightly higher voltages, as as a result, a device rated at the same wattage as one years ago draws less current. Therefore the result is less line losses (less current draw)and better transmission efficiency for the power companies.
By the way, the peak voltage is approximately the RMS voltage divided by 0.707. Therefor the peak voltage on the 240 volt sine wave is approximately 340 volts!