What is the consensus on Energy Saver Switches?

These are Electric Utility Company installed devices that are attached to heat pumps and enables them to cycle on/off your system during periods of peak summer use. They claim this helps them manage usage, saves energy, is completely transparent, and will not damage your equipment. If you allow them to attach this device to your heat pump they'll credit you $10 per month (x 4) during the summer months. Is this good, bad, doesn't matter?

[Edited by kcrossley on 01-29-2005 at 12:22 AM]