Symmetries are widespread in physical, technological, biological, and social systems and networks, including power grids. The swing equation is a classic model for the dynamics of powergrid networks. The main goal of this paper is to explain how network symmetries affect the swing equation transient and steady state dynamics. We introduce a modal decomposition that allows us to study transient effects, such as the presence of overshoots in the system response. This modal decomposition provides insight into the peak flows within the network lines and allows a rigorous characterization of the effects of symmetries in the network topology on the dynamics. Our work applies to both cases of homogeneous and heterogeneous parameters. Further, the model is used to show how small perturbations propagate in networks with symmetries. Finally, we present an application of our approach to a large power grid network that displays symmetries.