Well, I can tell you this: If demand drops that much, power companies will be “forced” to raise rates to remain profitable, so savings will be be nil. And the same for local utility taxes.
Use less gas, Stupid...and when Stupid did, we “have to” raise the gas tax to compensate for “lost income”.
It’s a drought, Stupid; conserve water...and when Stupid did, water rates had to be “reluctently” rasied to compensate for “lost income”.
There are plenty of other examples.
When the kilowatt police start metering you use, the LED lights will decrease your consumption enough so you can sneak in an a little illegal AM radio listening.