I found a used 350 # Phoenix rod oven when I bought my welding machine. I keep it on 350F year round. My shop is on a separate meter and mostly I just pay a minimum rate. The rod oven is well insulated so it doesn't take a lot of electricity to keep it hot once everything in it is up to temp.
If you don't use a lot of welding rods, they make 10# and 50# versions also that don't take a lot of energy to maintain.
A 7018 or any other iron powder rod (basically everything but cellulose coated ie 6010,6011) rods run better in a heated state. One thing you have to think about when not keeping your electrodes in a heated oven is rusting of the wire underneath the flux. This will cause lots of problems with porosity in addition to the moisture causing hydrogen embrittlement of the weld which usually results in catastrophic failure of the weld. Hydrogen embrittlement cant be detected by the naked eye so it can be a very dangerous situation to have on a load sensitive weld.