Here in Southern Indiana, CenterPoint offers a whooping $20 a year for participating (after a $75 signup bonus).
Participants agree to brief, limited adjustments of their thermostats during peak electric demand periods from June 1 through September 30. Enrolled customers can anticipate at least one adjustment and a maximum of 15 adjustments per summer. Peak demand periods for adjustments typically occur on especially hot days. Adjustments will not occur on weekends or holidays.
Participants will receive a $75 one-time bill credit after being accepted into the program and an additional $5 bill credit per device during the months of June through September for staying enrolled in the program.
At the start of an adjustment event, your thermostat will be automatically adjusted up to four degrees above the current temperature.
The adjustment will typically last no more than four hours on non-holiday weekdays and will occur between 1 p.m. and 6 p.m. [Note: peak temps here are usually 4-7pm]
Once the temperature adjustment is over, your thermostat will return to its normal set point and/or schedule.
In some cases, your thermostat may be adjusted down 3 degrees prior to an adjustment event to precool your home. [I'll bet .. this would mitigate their income loss.]
You can opt out of an event at any time from your mobile device, web browser or thermostat. You can also opt out simply by adjusting the temperature. When you opt-out of the precool, you also are opting out of the temperature adjustment.
This kind of arrangement can make sense if no one is home weekday afternoons, but if you've already set your thermostat to save power in those hours, $20 a year isn't going to make you want to sign up. We had a similar program in that Big Western State, but the carrot was about $100 per month during the four summer months.