A power supply for welding, cutting and similar operations includes a dual two-switch forward converter. The converter has two inverter circuits coupled in parallel but controlled to provide output power in an interleaved fashion. To avoid “walking” of the circuits (which could result in different duty cycles and imbalance of the load sharing), control signals are determined and applied to a first of the inverter circuits, and “on” times of the first circuit is monitored, such as by augmenting a counter to determine the number of clock cycles the first circuit is “on”. The same duration is then used for commanding output from the second inverter circuit. The duty cycles of both circuits is thus ensured to be the same regardless of changes in the total output power.