A charging circuit for converting electrical energy into thermal energy is provided, having a compression stage, connected via a shaft to an electric motor, a heat exchanger and an expansion stage, which is connected via a shaft to a generator, wherein the compression stage is connected to the expansion stage via a hot-gas line, and the heat exchanger is connected on the primary side into the hot-gas line, wherein the expansion stage is connected via a return line to the compression stage, so that a closed circuit for a working gas is formed. A recuperator is also provided which, on the primary side, is connected into the hot-gas line between the heat exchanger and the expansion stage and, on the secondary side, is connected into the return line, so that heat from the working gas in the hot-gas line can be transferred to the working gas in the return line.