The current basically adjusts the amperage or voltage to the plug. As you turn it up the plug glows hotter, if you go too far you'll burn up the plug.
If you've got 12v at the plug then something's not right. It shouldn't be over 2v, and probably close to 1.5v.
We went from Cox starting batteries that had 3 d cells soldered in parallel, to a 12v gel cell and power panel, to the McDaniel RC nicad. Since the Cox unit died I modified a 4 D-cell battery box from Radio Shack to be parallel. Now I take all three when we go out, and if the nicad doesn't do it the D-cells do. Honestly I think the D cells work better. The power panel is cumbersome to deal with.