Demand response techniques can be effective at reducing heating costs for building owners. However, few studies have considered the dynamic marginal costs for district heating production and taken advantage of them for building-level demand response. In this study, a district heating network in the Finnish city of Espoo was modeled to define dynamic district heat prices. The benefits of two demand response control approaches for a Finnish office building, the demand response control of space heating and a thermal energy storage tank, were evaluated by comparing them to each other and utilizing them together. A 5 m3 storage tank was installed in a substation of a conventional high-temperature district heating network. A new demand response control strategy was designed to make the most of the storage tank capacity, considering dynamic district heat prices and the maximum allowed return water temperature. The results indicate that the demand response control of space heating and the storage tank cut district heat energy costs by 9.6% and 3.4%, respectively. When employing the two approaches simultaneously, 12.8% savings of district heat energy costs were attained. Additionally, thermal energy storage provides more potential for peak power limiting. The maximum heating power decreases by 43% and the power fee reduces by 41.2%. Therefore, the total cost, including the district heat energy cost and the power fee, can be cut up to 22.4% without compromising thermal comfort and heat supply temperatures to ventilation systems.