A cooking appliance includes a controller for establishing a plurality of operating modes for heating an oven cavity. Specifically, the controller establishes one of a pre-heat mode, a ready mode, a first low power mode and a second low power mode for controlling a temperature of the oven cavity. Upon selecting a temperature for the oven cavity, the controller operates a radiant heating device, a convection fan and a convection heating device at full power to establish the selected temperature. After the selected temperature is achieved, the controller switches to a ready mode and reduces heat output of both the radiant heating device and the convection heating device, while also reducing fan speed. After respective periods of time in which a door of the appliance is not opened, the controller switches to first and second low power modes to conserve energy.