Thanks for that mate, and of course all the advices from others. It seems Ice is out of the question with so many creatures with Frost resistances and even immunities. Fire seems very viable, since there are only Dragons resistant to it, depending on the type of course. Also Dunmer and Fire Atronachs, but I don't think I'll be fighting many of those. Quite a few creatures have a weakness to fire, and since it's the most damaging spell type and cheapest to cast it is very good choice, IMO. Even though casting costs can be rendered obsolete with Enchanting.
Shock on the other hand hits instantly and it is neutral to everything. Magicka drain is good as well, and so is the fact that strongest summons, the Storm Attronachs are immune to it so I can cast without fear of killing them. Also, the Master Shock spell seems better to me than Fire one. Not to mention I can play an Emperor Palpatine in Skyrim

if focusing on Shock. Heh, decisions, decisions.