NOAA News Online: NOAA Issues Space Weather Warning (Story 2437)

In case you're wondering (use title link for full article):

May 15, 2005 — Forecasters at the NOAA Space Environment Center in Boulder, Colo., observed a geomagnetic storm on Sunday, May 15, which they classified as an extreme event, measuring G-5—the highest level—on the NOAA Space Weather Scales...

"This event registered a 9 on the K-Index, which measures the maximum deviation of the Earth's magnetic field in a given three-hour period," said Gayle Nelson, lead operations specialist at NOAA Space Environment Center. "The scale ranges from 0 to 9, with 9 being the highest. This was a significant event."

Possible impacts from such a geomagnetic storm include widespread power system voltage control problems; some grid systems may experience complete collapse or blackouts. Transformers may experience damage. Spacecraft operations may experience extensive surface charging; problems with orientation; uplink/downlink and tracking satellites. Satellite navigation may be degraded for days, and low-frequency radio navigation can be out for hours. Reports received by the NOAA Space Environment Center indicate that such impacts have been observed in the United States...

UPDATE: Here's a link about NOAA Space Weather Scales.