At the start of 1974 there was a national miner's strike. In order to preserve coal and power all commercial users were limited to 3 specified days electricity consumption in every 7. That lasted 2 or 3 months, and came right after the oil crisis.
At home there were regular power cuts and houses were freezing places illuminated by candle. This is when the UK became very interested in central heating.
From the government's own figures, a 40% reduction in working hours caused just a 4% drop in productivity.
I am surprised there haven't been studies to try and validate that experience outside of of strikes and crises. The government's own study and the result seems to have been silently forgotten.