I'm not 100% sure what you mean by utility real-time programs, but yes, this probably is they meant. Nest knows where you live (I don't mean that in a creepy way), and they can help you enroll in what are called "demand response" or "load control" programs in your area. When you enroll, you get an incentive like a bill credit or a free thermostat, and you give the utility permission to turn your AC off for a little while at some point during the summer.

Many of these utility programs actively recruit customers, so chances are (a) you'll get a chance to sign up even if you own a different type of connected (e.g. WiFi) thermostat, and (b) the sign up process won't be hard.

Some utilities (like ComEd in Chicago) have a real-time program where the price of electricity changes every 5 minutes in response to supply and demand.

https://rrtp.comed.com/live-prices/

I was asking if Nest can observe and respond to that data, which it looks like it still cannot.

As ocdtrekkie mentioned, yes. When its cheaper for the utility to shed demand rather than spin up peaking plants, they issue a signal to Google/Nest, who then uses a push notification and temporarily shut down air conditioning compressors at utility customers who've signed up for the program.

Your house gets a couple of degrees warmer but you get a discount, your utility doesn't need additional generating capacity, and Google charges a fee to run the program.

They actually do. Back when I had a Nest, I got $100 from ComEd for signing up for, and then $40 for keeping signed up all summer, for a program where they could go in and tweak my thermostat up a few degrees during peak load to prevent brownouts.

Yes, Nest partners with the utility directly. I don't know what level of integration is involved. It's more likely that the utility has access to an API that can do things remotely to the thermostats of those enrolled in the program.