Above the ground, each wire is spooled up and attached to its own coil. The coils are mounted along a central support axis which carries all the weight. Inside the support axis, there are two transmission axis, one for the charger and one for the generator. Each coil can be switched individually between the two transmission axis, through a gear system.
When energy is in surplus, the distributor routes it to the charger (an electric engine). The charger uses the electric energy it receives to spin its transmission axis, thus spinning all coils attached to that axis, and lifting their weights up to maximum height.
When a weight is at maximum height, its coil will automatically switch from the charger axis to the generator axis.
When energy is needed, the allocator switches off the break on the generator axis, thus causing the coils to unwind and spin the axis, powering the generator and creating electricity.
Another potentially interesting idea destroyed by the realities of physics.
A 1-ton weight in a 100-foot well could power a couple light bulbs for an hour — assuming no power losses, of course.
Physics, thou art a heartless master.