This unit was offered to me a few years ago, and yes it was to be activated via electric lines during peak periods. My problem with it is that the peak period as defined by my company was between 10am and 2pm and then 5pm until 8pm. The control would not be activated unless there was an "event". I guess the company decided when and what the "event" was.
If you have been working in AC then walking home or even driving home in 90+ degree heat only to enter a house in which the AC is being switched off - to me not so good.
The other thing for me is that I keep the t stat at 78 from 7:15 am until 6Pm, then it is lowered to 76, then 75 at 10pm...and I am home all day, so just when I am trying to lower it to a more comfortable temp the compressor will be turning off. it can take a good 3 or 4 hours of continuous run to reduce the temperature of the house so turning off and on seems like it is prolonging the process, using more energy and keeping me hot in the process. I live in the middle of the city so when it is very hot, there is little night time cool down. After sundown heat continues to be reflected off of buildings and side walks so cool down can be about 87 and very humid at 10pm,
We have had peak days on the Weekend - announced on the radio. What happens if you have a houseful of guests and little or no AC? I guess - Let them be hot.
I decided to control the running myself. As for reduction objectives of the company....let the CEO get his bonus some other way that does not involve me being uncomfortable.
In the end I guess none of this might matter anyway because now we have smart meters that send a reading to the company every hour or at least record it every hour because the usage by hour and cost by hour show up on the web site. This gives the ability to charge more per Kwh during peak periods.