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Climate change is a matter of pressing importance for modern society. One method that has been suggested for mitigating the role that fossil fuel based transportation plays in this issue is the introduction of Plug-in Hybrid Electric Vehicles (PHEVs) in order to electrify the transportation sector. While these vehicles would have a significant impact in reducing greenhouse gases (GHGs), they may also place a larger strain on the current power grid and the coming Smart Grid. In order to address this issue much work has been completed in order to examine the impact of PHEVs on distribution systems in modern power grids while little effort has been made to examine the effect that the inclusion of this new load will have on generation and transmission systems. As such, this work extends the probabilistic reliability evaluation of power systems by developing a model for reliability evaluation using Monte Carlo Simulation (MCS) to examine the impact that PHEVs will have on composite power systems. The model is examined using the IEEE-RTS across multiple load and penetration levels.