> Why not bring massive energy storage and nuclear plants online?

I'd argue there's more ecologically sound ways to supply the desired energy demand in combination with shifting some of the load away from peak times. I don't think that strictly correlates to "a lower standard of living" so much as "there's minor behavioral changes that would more efficiently use existing resources."

> Making peoples lives worse to save money

This is exactly the mentality that I'm surprised by: I suggest shifting high energy use slightly and your reaction is "that will make my life worse." Would it really have a strong negative impact on your life to run your dryer overnight for your towels/sheets/whatever if it meant 50% cheaper power?