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This paper presents a technique used for the reliability evaluation of restructured 115 kV distribution transmission system. The adequacy assessment of a deregulated power using time sequential Monte Carlo simulation to evaluate customer load point reliability in bilateral contract electricity markets. Although the contracts among market players are settled in a financial power market, such as the reliability network equivalents of deregulated power system. To determine the reliability at each load point for a given time period. Fuzzy logic number is employed to model all concerned uncertainties, and consist of the load demand and reserves required in each market and prices cleared in each market. Load flow calculation is used to evaluate the amount of load served. The concept of nonuniform reliability is presented and a model of cost allocation for transmission reliability benefit that is sensitive to system security, and long term investment of the 115 kV distribution transmission system by considering both system reliability improvement and reliability worth in term of benefit to cost ratio.