High‐intensity long‐duration continuous auroral electrojet activities (HILDCAAs) are recognized as the continuous (duration >2 days) auroral electrojet activities (AE > 1,000 nT) caused by interplanetary Alfvén waves driving magnetic reconnection at the Earth’s magnetopause. This paper focuses on the study of geoeffectiveness of HILDCAA on the basis of associated geomagnetically induced currents (GICs) and pipe‐to‐soil voltage (PSV) observed in an underground pipeline at Finnish Natural Gas Station, Mäntsälä. In this study, 113 HILDCAAs with different interplanetary sources (72 corotating interaction region‐storm preceded, 29 interplanetary coronal mass ejection‐storm preceded, and 12 nonstorm) have been selected and their possible contributions in underground pipeline corrosion have been quantitatively compared by assessing GIC/PSV profiles for each of these events. In addition, the spectral characteristics of GIC during these events have been studied using continuous wavelet transforms. The Morlet wavelet has been applied to 10‐s modeled GIC data corresponding to each event to explore the main band structures and the periodicities found in GIC spectrum. GIC/PSV modeling is based on plane wave method and distributed source transmission line analogy between pipelines and electric circuits. HILDCAAs are found to drive a small‐amplitude, but continuous, fluctuation in GIC throughout the event duration of several days. This makes the cumulative effect of HILDCAAs in pipeline corrosion noteworthy. The spectral analysis shows that GIC possesses both short‐term, as well as continuous, power distribution with different periodicities. CIR‐preceded HILDCAAs are found to be more geoeffective while taking associated GIC and PSV into account. Possible physical explanations supporting the results have been presented.

Polar cap potential (PCV) is an important parameter used for determining what kind of interaction takes place between solar wind and magnetosphere. Highly energetic particles from Sun driven by solar wind constantly bombard with Earth’s magnetosphere–ionosphere system that results into a phenomenon like auroras, and major geomagnetic disturbances. Solar wind electron deposition determines the magnitude of field‐aligned current (FAC) and ultimately leads to PCV variation. Several studies found that increase in magnitude of IMF‐B_z causes an electric field of cross magnetosphere to increase, and it leads to increase in magnitude of ionospheric cross‐polar cap potential (PCV). Moreover, PCV was found to be a linear function of V_sw. In this research, we aim to study how field‐aligned current (FAC), for example, region 1 current and PCV, is related during different forms of geomagnetic disturbances. In all events, FAC and PCV are found to have corresponding fluctuations—especially at times of significant variation of IMF‐B_z (negative B_z interval) following the linearity of equation suggested by Moon in Moon (2012, https://doi.org/10.5140/JASS.2012.29.3.259). We found one‐to‐one correspondence between FAC and PCV. We did CWT analysis and found that FAC and PCV have more or less same spectral behaviors for each event considered. The cross‐correlation analysis shows a high and positive correlation between FAC and PCV at 0‐min time lag for all geomagnetic activity. The CWT analysis clearly supports the result of cross correlation between FAC and PCV. We found that FAC and V_sw, FAC‐B, and FAC and AE are also positively correlated with high‐correlation coefficient at lag 0 min for all geomagnetic storm. However, FAC‐B_z, FAC‐B_y, and FAC‐SYM (H) have varying correlation in different events. For a particular storm and substorm, the parameters B_z and B_y may not necessarily be varied with FAC in regular sequence but IMF (B) always show positive correlation with FAC for all geomagnetic activity. This paper presents a clear relation between FAC and PCV. This result will help to identify some of the outstanding issues in determining the causal mechanism of PCV variation, a crucial thing to understanding the coupling between the solar wind and M‐I system.