It is true that some part of the demand will use the energy any way as the energy is just a part of their industrial process or a home consumption that cannot be posponed… in principle.
But case the price on the peak demand will be 10 times on peak time than in the valley time… maybe those demands will think about how not tu use energy on peak demand, for example maybe they will store their energy despite of massive storage system.
and As they are in a process they can maybe store in better ways.
I mean for example a production process that uses energy for cooling maybe can cool down huge quantities of water or PCM materials in valley and use the cooling on peak so they don´t use electricity.
Actually this is very dependant ton the price because if the energy become very expensive on peaks some companies even will change their workers timetables.
But any way I don´t think this will be that dramatic, i think this will be more a soft transition with multiple solution used together, but for that a real hour price market for every one will promote many initiatives.