The company was having problems with demand pricing as discussed in other answers. That's not a problem for residences (usually).
At a "micro" level on the grid, it doesn't matter.
You dancing through your house throwing all your loads on at 8:16 isn't going to make a difference to the generator, because your tiny peak will "disappear in the noise" (average out) amongst thousands of houses being served by that distribution equipment and generators.
At a "macro" level, it matters a lot.
For instance most grids have times of day/year which are peaks for them. An example is 4 pm on a hot summer day - shopping is open and doing business (unlike 7am), industries are still running full tilt (unlike 7pm) and residential A/C load is coming on strong, as kids get home from school and smart thermostats spin up the A/C in preparation for adults to come home from work.
Peaks are tough. This is when "peaker" generators must be brought online that are only used for a few hours, a few dozen days per year. Yet the bank wants the mortgage paid all year. That makes these generators expensive - and usually they are natural gas, so not all that green.
The typical peaker used to be a locomotive diesel engine... but today it's a jet engine - like those in the A330 or 777 airliner, but the "fan" on the front is replaced with a generator. Great, you're paying mortgage on a jet engine you use 3% of the time.
... And that's why they're so keen to have EVs and PowerWalls back-feed the grid during peak times. People don't like this being mandatory, but no worries - as you plainly see, there's plenty of money "on the table" to incentivize willing participants.
Anything you can do to avoid power use during these times helps reduce demand for peaking generators and their fuel consumption.
Flattening your peaks works well for everyone
Here's what one really smart guy does with a well-insulated house.
TLDW: runs the air conditioner in the middle of the night, chilling the house to 66F. Then does not run at all through the day. Due to shading and good insulation, it never gets above 75F. This "battery" stores about 16 KWH, larger than a Tesla PowerWall.
But a far more radical way to do this works with extreme rate plans such as Duke Energy, which charges a peaking charge of $8 per kilowatt, but a 1 cent per kilowatt-hour rate. This favors great care so that your load never exceeds your baseline load (say 500W) plus one largest appliance (e.g. dryer at 5500W). Total 6000W ($48/month). Other than that, you are paying a penny a kilowatt-hour!
For instance using load shed devices so that range pre-empts dryer, which pre-empts water heater, which pre-empts A/C - only one runs at once. Moving the blue peaks to the green. Thusly:
And another layer can be added to this. Those white areas below the green "6000W" line is power that would only cost you 1 cent per KWH under Duke's plan. The profitability of Bitcoin mining is tied to the cost of electricity. So you have a rack of Bitcoin miners that throttle up and down to "backfill" all usage below your 6000W.
In an area which is overstocked on baseline 24x7 nuclear or "run of river" hydro (which can't be stored), you become the perfect customer.
Now how does this Duke plan handle summer peaking loads? They have certain hours during the summer where they suspend "penny a KWH" and charge much higher KWH rates. During those times, curtail usage.