"The company has negotiated deals with multiple energy partners in the U.S. Some utility partners are willing to spend $30 to $50 per year and per thermostat to be able to turn the air conditioner up when it’s a hot day. This way, the utility can levels load on the grid. "
At first glance it would appear that the author is saying that Nest will make your air conditioner produce more cold air on a hot day, but the following line contradicts that.
How would it level the load to use more energy? It wouldn't.
I think the actual conclusion, is that Nest is working with energy suppliers to increase the temperature on the thermostat, which will reduce the power used by air conditioners, and that this occurs at peak power usage.
Which will save the nest owner money, the power company money, and make Nest as a company some money.
Moreover, this probably occurs at an imperceptible level to the user, or is done while they are presumably gone. Also the Nest User can turn it back down manually if they are there and uncomfortable.
This is bad sensational reporting.