On-demand (or surge) power generation like this is much different then base power generation like you get from solar, wind or nuclear (or theoretically fusion).
Long story short, any functional power grid needs both because generation has to match demand, and demand is uneven and wonky.
The most common surge power source is small natural gas plants. This is a replacement for those.
It presumes there will be extra electricity.
There’s always extra electricity. Eg. Solar generates power during the day, charges this “battery” and then powers lighting at night when demand is higher and people need to be able to see.
That Evil Wizards name?
Siatama.