Abstract: Useful heat is recovered from electric furnaces using two heat recovery systems. Primary heat recovery is effected using liquid water or other cooling liquid and is performed in such a manner that the temperature of the liquid does not exceed its boiling point at atmospheric pressure. Secondary heat recovery is effected by indirect heat exchange between the exhaust gas of the furnace and a gaseous cooling medium and is performed in such a manner that the gaseous medium is heated to a temperature above the boiling point of the cooling liquid. A part or the entirety of the cooling liquid is then heated by the gaseous medium.