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The power systems main emphasis is to provide a reliable and economic supply of electrical energy to the customers (Billinton & Allan, 1996). A real power system is complex, highly integrated and almost very large. It can be divided into appropriate subsystems in order to be analyzed separately (Billinton & Allan, 1996). This research deals with generation reliability assessment in power pool markets, and transmission and distribution systems are considered reliable (Hierarchical Levels-I, HL-I) as shown in Fig. 1.

Loss of Load Expectation Assessment in Electricity Markets using Monte Carlo Simulation and Neuro-Fuzzy Systems