A transient three-dimensional (3D) coupled mathematical model of electroslag remelting (ESR) furnace has been developed to investigate the impact of power control function on the heat transfer and magnetohydrodynamic (MHD) two-phase flow. Maxwell’s equations are solved by electrical potential method. The volume of fluid (VOF) approach is implemented to describe the two phase flow. The Lorentz force and the Joule heating are updated at each iteration as a function of phase distribution. The solidification is modeled by enthalpy-porosity formulation. A reasonable agreement between the experiment and simulation is obtained. The melt rate increases 15.83% in the remelting process with a constant current of 1600 A. With the power control function, the current would be reduced if the melt rate is 1.05 times larger than its initial value. The fluctuation range of the melt rate therefore decreases to 7.23%. Moreover, the fluctuation is limited within 5.12% if we start the power control program when the melt rate is 1.03 times higher than its initial value. Not only the metal pool depth but also the input power decreases under the effect of the current control function.