The measurements of horizontal electric components at extremely low frequencies (0.1–20 Hz) have been started in the high-latitude observatory of Lovozero in the Kola Peninsula. It is found that the electric components are not less informative than the horizontal magnetic ones for Schumann resonance study. The diurnal variations in amplitude, frequency, and bandwidth of the first Schumann resonance mode in the electric W-E and N-S components are similar to the variations in the magnetic H and D components, respectively. The same correspondence of the components keeps for Q bursts. The frequencies in electric and magnetic components are not always equal: In summer, the frequency of the electric N-S component in the diurnal variation exceeds the frequency of the magnetic D component by 0.1 Hz. The parameters of both magnetic and electric components have seasonal variations. Three maxima of thunderstorm activity are observed in daily variations of the amplitudes of electric components: the Asian and American ones in the W-S component and the African one in the N-S component. The width of resonance bands in the electric components is somewhat larger than in the magnetic ones. The calculations of ELF wave components near poorly conducting surface are made, the results being in accordance with the observations.