Error message: surge on hub port

Please can someone offer some advice? I have an Epson Stylus DX7450 all-in-one, which is about 3/4 months old. It has always worked perfectly. Suddenly, I am getting a pop-up balloon on the taskbar which reads "power surge on hub port". Clicking on this prompts me to disconnect the printer and click reset. After this, the printer no longer appears to be recognised by the computer (ie I cannot print anything; the Epson status monitor box tells me the "printer is not ready to print" despite being properly plugged in, turned on etc.).

Some facts:
1) Printer is connected by USB cable.
2) Running WinXP Home Edition with latest updates installed on a Dell emachines 4250.

I have tried:
1) Reconnecting the printer to every USB port on the PC, the same thing happens every time.
2) Uninstalling and reinstalling the printer, this works sporadically and only for a short period of time before the problem reappears.
3) I can photocopy and the printer itself seems functional, lights are lit as normal etc.
4) Plugging other items into the USB ports doesn't have the same effect (they work, no pop-up balloon).

Thank you for your help!