You will be at the limit of the 100 amps with what your doing now. I had that issue in my first shop. IF many things where running in the shop you could tell the voltage drop when you would try to weld. Especially 7018 rods vertically. I had to shut off everything I could to make the welder work correctly.
So if you think you ever will add more stuff drawing larger electric loads I would put in the second meter with a 200 amp service. As for the additional charge. A shop is not going to be "free" you will use more electric than you think if you weld much. If you file a schedule F or a business return having a second meter for the shop makes it much easier to deduct the electric cost for the shop. Even if not your shop should run you $30-50 each month. That is less than $2 a day. Not a BIG expense compared to may other things you get or use.
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Today's Featured Article - A Cautionary Tale - by Ian Minshull. In the early 1950s my father bought an Allis Chalmers B and I used it for all the row crop work with the mangolds and potatoes, rolling and the haymaking on our farm. The farm and the Allis were sold and I have spent a lifetime working on farms throughout the country. I promised myself that one day I would own an Allis. That time event
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