I apologize if this is already a known issue, I didn't see anything after looking around.
I have two induction furnaces powered on the same circuit. I've set each to remain on and heated up 24/7 via redstone directly beneath them.
Despite being on all the time, and maintaining 100% heat, they only draw power when smelting an item.
I checked power consumption both from their power source as well as with the EU meter.
I'm not using any other mods.
Thanks!