Two small size second-generation compressed air energy storage (CAES) systems have been investigated. Both plants are based on a 4600 kW Mercury recuperated gas turbine (GT) and on an artificial air storage system. In CAES air injection (CAES AI) plant, the stored compressed air is mixed with the air flow exiting the GT compressor and fed after a recuperative heating to the GT combustion chamber. A topping air expander is included in the CAES air injection/expander (CAES AI/E) plant scheme. Preliminary evaluations have been carried out to assess the maximum achievable GT power augmentation taking safety of operations and plant life duration into consideration. Plant performance has been evaluated during the overall operational cycle (charging, storage and discharging phases). CAES AI plant allows a 30% maximum extra power delivery (some 1500 kW) in respect to the nominal design GT power. The introduction of the topping air expander in CAES AI/E plant allows an additional power production of some 300 kW. Both plants have shown storage efficiency improvements by reducing the discharge period duration. Satisfactory values around 70% have been found in the best operating conditions.