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According to current application of the power system communication services and communication technology and network structure, a mathematical method of safety and risk assessment of electric power communication services is carried out. Considering the typical topology SDH transmission system network which is used widely in power system, this paper introduces the concept of the safety classification, importance degree of power system communication service, communication network point and transmission segment risk. This paper divides the risk into two kinds, recessive risk which is the risk caused by communication failure that will influence the power system directly and dominant risk which is the risk that influence power system indirectly. Using RBD (Reliable Block Diagram) and PRA (Probabilistic Reliability Assessment) the method, which combine reliability of communication network communication point or electric power optical cable, characteristics of power system operations classification, importance degree of power system operations together, can calculates reliability of power system communication services which have different communication channel organization patterns from point to point, and risks, including recessive risk and dominant risk, caused by power system communication service interruption and reliability degeneration for single communication network point or optical cable failure. It is proved that the method have very good practicality and operability according to the calculation result. The service reliability and risk assessment value calculated by this method accords with current application situation. This method can be used not only in reliability and risk assessment of power system communication network carrying the power system operations, but also in the power system communication service channel's optimization and adjustment while during common power system running and overhaul of the communication network. This method will bring help fo- - r the safe and reliable running for the power system and give important and scientific support for reducing risk for the power system communication network carrying the power system services.