An electrode-supporting assembly for a contact-start plasma arc torch has an insulator that partially houses an electrode, and employs a spring-loaded plunger to bias the electrode to a forward position. The spring is engaged between the plunger and a contact element attached to the insulator, and may conduct electrical current to the electrode. The plunger, spring, and contact element are retained in the insulator when the torch is opened to replace the electrode, which is a consumable part. The electrode and the plunger have axially-engagable mating surfaces to assure good thermal and electrical conductivity therebetween. Conductivity can be further enhanced by forming the plunger of silver or a silver-bearing alloy. In some embodiments, a passage through the insulator is partitioned into forward and rear chambers, with the plunger, spring, and contact element trapped in the rear chamber.