In deregulated electricity market environment, the power system works with lower stability margin due
to demand fluctuations. Therefore, in restructured power systems all generation companies attempt to
increase reliability of their own power plants. The arrangement of the busbar layouts in power stations
has a great effect on the power system reliability. This paper develops a sequential Monte Carlo simulation
(SMCS) to evaluate the effect of generator breaker and bus-section on the reliability indices of one
and half and two-breaker busbar layouts. Karun III power station layout in Iran national grid (ING) is considered
as a real world system case study. The most commonly used reliability indices such as loss of load
expectation (LOLE), expected energy not supplied (EENS) and expected load curtailment (ELC) are used to
evaluate the reliability in this paper. Economic and technical evaluations of reliability indices variation in
presence of generator breaker and bus-section are presented. Simulation results show that how variation
of forced outage rate (FOR) of generator and generator breaker affect on the reliability indices.