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Electricity bills
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For more on marking an answer as the "Best Answer", please visit our FAQ.If the question was 'If I use low voltage lighting will my consumption be less?' then no - if you want 60W of lighting the current will change according to the voltage of the system and a 12v 60W lamp will consume the same as a 240v 60W lamp.
If the question is 'My [240v] supply has dropped, will my consumption rise or fall?' your consumption will probably fall, as Hamish states the lights will be dimmer. If you have a washing machine you may find that your motor gets damaged because it still has the same 'work to do' and will try to take more current to accomodate for the lower voltage and will therefore run hot - the current in a motor is down to more than just resistance.