This sounds like the boxes the electric companies in the US offer. If you will let them cut off your hot water or ac during times of their choosing, then you get a buck or two off your bill.
For this to work properly on a fridge or ac, though, you need a variable speed compressor. Short cycling some compressors is not good for the hardware.
Peak loading is a problem for the electric companies. In Tennessee they have left the state divided down the middle between eastern and central time zones on purpose, because it shaves the peak when people get up for work in the morning.
In south Florida, if its' sweater weather (50 degrees F or lower) people don't know how to deal with it and tend to turn on the electric oven and leave the door open to keep their homes warm. This causes rolling blackouts or brownouts.