Or are you referring to a computer room type setup, where load shedding is used to maximise the time a UPS will hold up critical equipment, or to reduce the demand on a UPS/Generator setup?
afaict load shedding is the practice of automatically disconnecting some load (prefferablly less important load) to precent a worse situation happening (e.g. overcurrent protection tripping, ups batteries going flat or generators stalling).
Load shedding is the act of turning of the heating when the in-laws come round, this ensures that they don't hang around too long and are less inclinded to return!
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