This work provides a critical assessment of electric effects on the microstructure evolution at the heat-affected zone in electric arc welding. Electric effects are the interactions between electromagnetic fields and materials’ microstructures. They differ from the arc effect and the Joule heating effect by providing an alternative contribution to nucleation, grain growth, recrystallisation and tempering. The influence of the electric effect on grain size, defects, anisotropic properties, precipitates and residual stress has been examined kinetically and thermodynamically. The use of adaptable electric current densities, pulse durations, pulse frequencies and electrode movements is suggested to achieve desirable microstructures and mechanical properties for the weldments.