Energy conservation is one of the most important aspects of electrical discharge machining process in which the material removal is by means of spark erosion. Metal removal in wire electrical discharge turning is a complex erosion mechanism which involves melting, vaporization and rapid cooling of molten material. In this work, the significance of discharge energy on the performance of wire electrical discharge turning process, namely, material removal rate, surface finish, thickness of recast layer and surface crack, is analyzed. New model to estimate material removal rate and surface finish in wire electrical discharge turning process have been proposed. Erosion energy and kinetic energy imparted by electrons and average physio-thermal properties of work material are utilized for the modeling. Proposed models are validated by conducting experiments on AISI 4340 steel material. The results obtained from the model are well in agreement with the experimental values. The influence of discharge energy on surface crack and recast layer thickness is analyzed using scanning electron microscope micrographs and energy-dispersive x-ray spectroscopy analysis. Surface crack is observed at higher discharge energy. The thickness of recast layer increases with the increase in discharge energy. Three-dimensional surface topography reveals the turbulent nature of machining process resulted from transient erosion phenomena of wire electrical discharge turning process. Higher material removal rates of the order of about 0.06 g/min with consistent average roughness in the range of 4.5–5.5 µm at the expense of 1.6–2.6 J of discharge energy are achieved in this work. The proposed models can be utilized for machining of difficult to machine material by effective utilization of energy that leads to energy conservation in wire electrical discharge turning process.