I recently completed a dormer addition and am in the process of finishing touches. While installing the new circuit for the enlarged bathroom, I discovered that I have water entering the electrical panel inside the house. The water is entering the inside of the main wire coming from the meter and draining into the panel onto the circuits. The water does not com in on the outside of the wire (we set up a "double check" to see if there was water on the outside of the wire. The outside wiring above the meter, between meter and pole (on the house) does have a rain cap, but it looks like there is no natural "drip" length in the wiring. Any suggestions as how to fix this? How expensive might this be (MI)?

The drop to your house is provided my your power co, you need to contact them, they should not charge you anything for this

Due to the time, I am sure this has been corrected, however, for future reference: on an overhead electric service there should be a weatherhead on top of the conduit riser that connects to the top of the meter base. The service entrance cable which runs from the meter base to the weatherhead should have pigtails of approximately 18" in length, extending from the weatherhead. The utility company will connect their service drop to an eyebolt installed adjacent to the weatherhead. There should be enough service drop cable to connect to the customer's pigtails to create a "drip loop". The size of the drip loop will vary depending on the length of pigtails and the utility company practice.

If you don't have this drip loop then contact the utility company to correct. As previously stated there shouldn't be a charge, unless you have a problem with your service.

Don't have this corrected as yet. Seems that I get told one thing from the electric company and yet another from contractors.
I'm still looking for someone who will give me the straight story and get this fixed for a reasonable price, if I have to pay at all.
Right now, we just leave the panel door off so air gets to the circuits and dries it out quicker after rain. We also pray for sun.