Depends on what you’re doing. All I really need is for my technology to work, and all-in that’s under 100w. Each light bulb is ~4-6w.

Too many people think about the above two because it’s easier to see/feel/touch while it’s really thermal loads that are the bulk of household loads.

If I have to go down to 15C or deal with 30C, delay my shower/dishwasher/clothes washer/dryer to save enough bucks when it could really count, I’d do it.

Meanwhile on fixed pricing, I turn things off when prices are negative (that’s bad!) and indifferent to high prices when I have zero incentive to do differently.

How much would you have to save? For me it is thousands I can’t be bothered to delay kids bath times to save five bucks!

My parents in 1988 put their water heater on an overnight mode. Even with 4 kids taking baths we ran out of hot water twice that I remember (so about once every 5 years), and I can assure you as kid we weren't worried about conservation. 200 gallons (800 liters) of storage turns out to be plenty for all the baths people take in a day.

I know my parents got half price electric for water heating, but I don't know how much they actually saved.

A 60 gallon tank is considered large around here, so no wonder you had a 200 gal tank if it only heated at night!

The electric company gave us the tanks for free to us to sign up. Though the need for larger tanks to pull this off is important.