Best answer by Marc
That's a fascinating question.
The short answer is that not right away. It's still early days for us in the world of smart meters - we're still very much in a pilot phase.
But what you describe - the ability for energy use to be reduced during high demand by small percentages, so getting less consumption instead of cutting it off completely, is among the big possibilities for the UK as a whole.
And at the same time for people who have EVs or storage batteries or solar panels at home to sell it back.