That's not that much power though. Let's say you use lots of lights and save 500 watts for 12 hours a day by replacing incandescent lights with compact fluorescents, which would be hard to do just replacing lightbulbs in a normal home. If you could do that, you'd be saving six kilowatt hours of electricity a day, which would be less than sixty cents a day if your electricity is costing you under ten cents a kilowatt hour. We pay about nine cents a kilowatt hour where I live, so saving six kilowatt hours a day would save me fifty-four cents a day and about $16.20 in a month. That's pretty good, but if you are only cutting down on a couple of hundred watts for a few hours a day you aren't going to see much of a difference in your electric bill.
I figure I’m saving about $30 a month. Also, CFL’s last a lot longer and replacing incandescents adds up.
If you plug in just one 1200 watt space heater you are using as much power as 20 sixty watt bulbs or 10 amps roughly. The formula is Volts X amps = watts Watts divided by volts = amps roughly. The light bulb issue is a big bunch of boloney fabricated to push more expensive bulbs.
In other words you are only saving a small portion on the least power users in the house to start with.