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- In power system study, reliability assessment has been an important topic during past several decades because sudden power interruption can bring about enormous economic loss. Although the size of a substation is smaller than that of generation system or transmission system, switching actions after fault(s) make reliability assessment of substation rather complex. Therefore Monte Carlo simulation has been applied to this problem since 1990s. The Monte Carlo simulation can consider complex situations such as switching actions easily and permit various probability distributions in describing substation elements. Despite this ability of Monte Carlo simulation, one-parameter exponential distribution is still popular in this reliability assessment. This paper examines the characteristics of several two-parameter probability distributions, and offers new parameter decision rule based on average and variance of the target to be modelled. In case study, this paper shows the profits by using Weibull distribution which is one of two-parameter probabilistic distributions instead of exponential one.