Power quality problems such as momentary interruptions and voltage sags do not great influence on loads at past. However, the interests in power quality problems increase as the use of sensitive loads with microprocessor like computers increases recently. Accordingly, power system reliability research focusing to sustained interruption and momentary interruption partially needs more accurate evaluation methods including momentary and instantaneous problems. That is, many sensitive loads being tripped by voltage sags result in interruption costs. In this paper, new reliability worth evaluation method is presented considering voltage sags. We calculated the magnitude of voltage sags using fault studies and the duration of voltage sags using the trip time of protective relays for each fault. Moreover, we includes the customer interruption cost resulted from sensitive load trip by voltage sags. Through case studies, we evaluate the effects of voltage sags for permanent faults.