He's currently appearing in Punisher working for AIM who loaned him out to a drug cartel who've stepped their game up so to speak( I guess until Slott gets things back in order )
If they were to make a new Electro( 616 or Ultimate ) I would hope they would kinda think like a evil version of Static in that he uses his brain and thinks up new ways to use his powers like a evil genius boss, Max Dillion tends to stumble into learning new tricks years apart thanks to writers thinking it up only for the next one to drop it
His own costume yeah, it was in bad taste for him to be running around in Peter's costume( store bought or not ) and it would have been weird if he just suddenly just got a new costume as folks at that point had been complaining that he was getting the keys to the kingdom out the gate