The one big annoyance is that there’s no switch on the floodlight, so you’ve got to turn it on and off from the mains.
Since you’re already fitting a plug, and since that sounds like it might be closer than the mains due to the short wire, you could fit a plug with a switch on it. like these:
If it’s running at 500W, that’s half a kWh per hour. If electricity is a little under 40p per kWh, then the running cost should be a bit under 20p per hour. If you use it for 10 hours per day, every day, then your electricity bill might rise by about £60 per month.