In the summer our electricity rates over double between the hours of 2 and 7pm. We run the A/C at 72 until 2pm and then turn the A/C off. Around 8pm our house gets up to around 76 and then we open the windows. We're in the west where it cools to the 50s overnight.
If we're experiencing a heat wave the city will throttle everyone's thermostats to around 78 degrees between 3 and 5pm. But we turn ours off anyway. So, we get the financial incentive and not the pain. The city is happy we aren't using the A/C at the peak. It's a win-win.
Yes, I think I am just overly paranoid. I think it's stupid, but I like can't convince myself to give in. Our electric company gives us a huge discount, both for the thermostat and then for having it.
They install the thermostat for free. Perhaps your electric company does that as well?
There is no charge for the device itself.