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The use of large superconducting inductors for "pumped" energy storage as an alternate to pumped hydro-storage is discussed. It is suggested that large units might be developed at less than $200/kW and with losses less than the 50 percent representative of pumped hydrostorage. Particular notice is taken of the ability of such peaking units to damp overall power system electromechanical oscillations. Attention is also given to the stress considerations in magnet windings and to the optimization of superconductor and structural material. A preliminary analysis is made for a 400 MW-10 000 MWh unit.