The　ratio　and　quantity　of　residential　electricity　consumption　in　China　are　increasing　steadily　with　the　country＇s　economic　development;　conservation　of　electricity　consumption　has　special　significance　for　reduction　of　carbon　emissions.　Based　on　data　from　635　questionnaire　surveys　in　four　typical　Chinese　megacities　(Beijing,　Hangzhou,　Guangzhou,　and　Guiyang),　this　study　analysed　the　determinants　of　residential　electricity　consumption　and　electricity　saving　behaviours　using　the　multivariate　regression　method,　estimated　the　price　elasticities　of　heterogeneous　resident　groups　by　combining　the　results　of　an　elasticity　formula　and　a　multinomial　logit　model,　and　assessed　residential　electricity　conservation　potential.　The　results　were　as　follows:　economic　indicators　proved　to　be　the　factors　most　strongly　influencing　residential　energy　conservation　behaviours;　electricity　elasticity　varied　significantly　among　heterogeneous　demographic　and　income　groups　towards　economic　intervention　instruments,　within　a　scale　of　0.16-0.63;　and　price　interventions　can　effectively　reduce　residential　electricity　demand　and　reduce　carbon　emissions　from　electricity　use　by　3.2%-9.3%,　thereby　improving　energy　conservation.　An　appropriate　policy　mix　should　be　adopted　to　reduce　household　carbon　emissions　effectively,　including　addressing　regional　disparities　and　expanding　ladder　price　differences　across　different　income　groups　to　fulfil　every　resident＇s　well-being,　along　with　increased　publicity　and　education　efforts　to　improve　people＇s　energy-saving　awareness　in　the　long　term.