Whether electric companies have that kind of pricing isn't a pure economics question, it's a question of what regulators will alow, and I'm pretty skeptical that regulators would allow that.
But "how does the grid handle spikes in demand" is the really interesting question there, and why more transmission lines (to smooth out supply/demand geographically) and reliable sources of "firm" power are important. Energy storage at scale is potentially really important here, too (and one of the reasons why home batteries are more important to the grid in some ways than home solar).
It's not about regulators, it's that you need something rarely, but it's capital costs aren't less than something you need often, so it's going to be really expensive for the short time you need it. Even if you spread the cost out over the year, consumers are paying it one way or another. Our only plan for seasonal change in production and demand is to over-build gas turbines.
But "how does the grid handle spikes in demand" is the really interesting question there, and why more transmission lines (to smooth out supply/demand geographically) and reliable sources of "firm" power are important. Energy storage at scale is potentially really important here, too (and one of the reasons why home batteries are more important to the grid in some ways than home solar).