The invention relates to an electric arc furnace and a method for operating same. The electric arc furnace comprises a lower vessel and a lid 120 placed on said lower vessel. The lower vessel has a tapping device for tapping molten metal. At least one electrode protrudes through the lid into the interior of the electric arc furnace, said electrode being held by an electrode holding device. A supply voltage device 150 is provided for supplying an electric direct current or alternating current to the electrode 130. The aim of the invention is to allow a continuous operation of the electric arc furnace. This is achieved in that the electrode holding device has an electrode adjusting device for adjusting the electrode dependent on the wear of the electrode and an electrode nippling device for nippling the electrode during the operation of the electric arc furnace. According to the invention, both the electrode adjusting device as well s the electrode nippling device 144 operate when the supply voltage of the electrode is switched on.