A refrigerator comprises a fresh food compartment and a freezer compartment and one or more power consuming features/functions including a refrigeration system for cooling the fresh food compartment and the freezer compartment. A controller is operatively connected to the one or more power consuming features/functions. The controller is configured to receive and process a signal indicative of current state of an associated energy supplying utility. The controller operates the refrigerator in one of plurality of operating modes, including at least a normal operating mode and an energy savings mode, in response to the received signal. The controller is configured to at least one of selectively schedule, delay, adjust and deactivate at least one of the one or more power consuming features/functions to reduce power consumption of the refrigerator in the energy savings mode.