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Energy storage systems (ESS) can be employed to improve the reliability of power supply at isolated rural locations supplied by long radial networks. This study presents a Monte Carlo simulation based method for assessing the reliability improvement potential of such an ESS. The proposed methodology can be used to establish the proper power rating and storage duration to achieve a given reliability objective. The paper examines a case study for a rural community in Manitoba and establishes the relationship between the expected values of reliability indices and the energy storage duration. The results of the simulation demonstrate the improvement of reliability of power supply with the addition of an ESS located at the remote substation. However, according to ESS cost data published in literature, the proposed option may not still be economically feasible.