The application of quantitative reliability evaluation in electric power sys- tems has now evolved to the point at which most utilities use these techniques in one or more areas of their planning, design, and operation. Most of the techniques in use are based on analytical models and resulting analytical evaluation procedures. Improvements in and availability of high-speed digi- tal computers have created the opportunity to analyze many of these prob- lems using stochastic simulation methods and over the last decade there has been increased interest in and use made of Monte Carlo simulation...