Abstract
The main objective of system reliability measures or indices is to quantify the behavior of the system related to its failures. This chapter describes some of the commonly used analytical methods in power system reliability evaluation. It provides a detailed description of the methods: State space method using Markov processes; Network reduction method; Conditional probability method; and Cut‐set or Tie‐set method. The state space approach is used to calculate reliability indices when all system states are described by a state‐transition diagram. Network reduction method can be applied for systems whose interactions among components can be easily captured by a block diagram called reliability block diagram. The main idea of cut‐set and tie‐set methods is to represent a reliability block diagram of a complicated structure by an equivalent one in a combination of series and parallel structures.
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