An electric furnace and method thereof for electric calcining of carbonaceous material for the production of graphite or graphite-containing material, wherein the carbonaceous material is supplied to the top of a vertically arranged furnace having a cylindrical cross section. The furnace is equipped with one top electrode and one bottom electrode supplied with electric current for heating of the carbonaceous material. The calcined carbonaceous material is discharged at the bottom of the furnace in one stream in the center of the furnace and one stream near the periphery of the furnace.