Yes, but not for the vast majority of industrial energy consumption, because of the outsized consumption of electric arc furnaces and a few other things like that.

That are most efficient in capital terms when running continuously.

Yes, that is certainly true of aluminum smelters, but precisely because they are so energy-intensive, their capital cost is a smaller contributor to the cost of their product than, say, a pharmaceuticals plant or a machine shop.

Steel EAFs cannot be run continuously, no matter how much capital efficiency you might hope to gain by doing so. It's inherently a batch process.

Continuous flow process plants like oil refineries are also very energy-intensive, but on the other extreme from things like an EAF, are very tricky to ramp up and down. But most of their energy usage is thermal at relatively moderate temperatures, which is much easier to store than the high-exergy energy needed for things like EAFs, aluminum pots, and data centers.