''Because a USB device was drawing too much power"

Can somebody please help me?
I have plugged my external hard drive ( silicon power Stream S10 USB 3.0) to my iMac ( OSX 10.8.5 ) and for some reason this messaged apperead
Now, the external hard drive was working fine all this time, it was working fine last night, only this morning it gave me an error message.
I have already tried 3 different cables ( as I read online that a faulty cable could be causing the error).
I also have turned the iMac off, and turned of its power supply - waited and then turned it on .
None of above worked.
Now, and at the time I had nothing plugged in the USB ports except the external hard drive.
I have tried to plug the hard drive into my other apple products - same message appears.
The hard drive is formatted only for Mac, so Windows wouldn't even see the device.
I never dropped the hard drive.
This is the first time in my life , this happened to me, where hard drive stopped working for no particular reason. I was so careful with this particular hard drive as all my current work is on it. Somebody please tell me how can I enable the device again? And why did iMac decided to disable it in the first place?!
What can I do, as I really need them files back   There must be a way .
Please help!

Disconnect both iPods, reset the SMC as described in the link below, and then try again with only one iPod connected. If that works normally, disconnect it and test it on the other USB port. If that works normally too, test the other iPod, by itself, on each of the ports. If all four tests are successful, it would appear that the error message was just a transitory glitch. If either iPod alone, on either port, yields the same error message, there's something wrong with that iPod or with the MBP that will need repair.
http://support.apple.com/kb/HT1411

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