A cooling component suitable for cooling an electrical component disposed in a power source of a welding or cutting system includes a heat transfer surface, an inlet, an outlet, and a closed flow area. The heat transfer surface transfers heat away from the electrical component. The inlet receives process gas from a gas source and the outlet directs the process gas downstream towards a torch assembly. The closed flow area extends between the inlet and the outlet and is in thermal communication with the heat transfer surface so that the process gas enhances cooling of the electrical component as the process gas travels through the closed flow area, from the inlet to the outlet.