An electrochemical energy storage device of high specific power containing at least one negative and one positive electrodes submerged in aqueous alkaline electrolyte and separated with a layer of ion-conductive but non electron-conductive material, whereby each electrode contains an active element interacting with the electrolyte in the process of charge-discharge redox reactions characterized in that active element of positive electrode is made of an electron-conductive electrolytic alloy having composition M(l-x-y)OxHy, where M is nickel or an alloy on the basis of nickel, x is an atomic fraction of absorbed oxygen in the electrolytic alloy being within the limits of 0.01 to 0.4, y is atomic fraction of absorbed hydrogen in the electrolytic alloy being within the limits of 0.01 to 0.4, whereby the said electrolytic alloy simultaneously fulfils the functions of both current-carrying collector and of active material participating in the processes of redox charge-discharge reactions of positive electrode.