The Indian power industry is adopting demand response (DR) as a potential mechanism to balance electricity demand and supply. Consumer engagement efforts in DR include different informational and structural intervention strategies - incentivizing or penalizing the energy consumers along with dynamic tariffing. Drawing on the framework of energy informatics, the present work applies behavioural science principles to study the effect of informational interventions to manage residential DR. Specifically, this study assesses consumers preferential behaviour based on their Willingness to Accept (WTA) and Willingness to Pay (WTP) estimates for electricity during peak hours. The contingent valuation method was employed to collect socio-demographic and electricity consumption data from a sample of 117 urban households. A cluster segmentation analysis identified four household consumer segments – Frugal-Indifferent, Opulent-Tolerant, Moderate-Indifferent, and Moderate-Intolerant. These segments characterize residential energy consumers based on economic and comfort seeking behavioural attributes. This research informs practitioners and policy makers on the design of differentiated choice-based DR programs for energy consumers.