An electric furnace or electric arc or resistance melting furnaces comprises a housing with a refractory lining which defines a furnace hearth in the housing and with a plurality of electrodes extending through the refractory having one of their ends terminating in the hearth and the opposite ends extending out of the housing. A plate is arranged in spaced relationship to the housing on its exterior and is connected to the opposite ends of the electrodes. The plate is arranged to define a cooling space outside of the housing which surrounds the electrodes. A cooling fluid is circulated into the cooling space and over the electrodes.