By using the IMAGE magnetometer network data, we compare the geomagnetic variation field B and its time derivative dB/dt in and near the auroral region. We show that although the auroral electrojet is the main reason for large B's, it cannot alone produce large dB/dt's, so smaller-scale current systems are important. This is evidenced by the horizontal field: the geographic north component (X) is clearly larger than the eastward one (Y) in the auroral region, but dX/dt and dY/dt are nearly equal. This result is important when geomagnetic induction risks on man-made conductors are estimated. The key quantity is the horizontal geoelectric field, and contrary to what is often assumed, it can have large values in any direction, not just parallel to the electrojet.¿ 1997 American Geophysical Union