Abstract : For investigating stressed carbon-steel electrode (AISI 4140) cracking induced by hydrogen embrittlement with the electrochemical noise (EN) technique, the contribution of the evolving hydrogen bubbles to the EN has to be determined. Under cathodic current control, various reasons may explain the fluctuations of the electrode potential. In the first paper of this series the electrolyte resistance (ER) fluctuations, which yield ohmic-drop fluctuations, were analysed for unstressed vertical tensile specimens. A simplified model was proposed to tentatively derive the characteristic parameters of the gas evolution, such as the bubble mean size and evolution mean rate, from the power spectral density (PSD) of the ER fluctuations. However, results in only qualitative agreement with optical observations were obtained, indicating that the complicated screening and dragging effects of rising bubbles have to be taken into account in the modelling for vertical electrodes. The electrode potential fluctuations of unstressed tensile specimens were investigated in the second paper of this series and the influence of a stress was examined in the third paper.