This is the second paper in a two-part series discussing how Regulator requirements for continuity of supply could be incorporated in the reliability analysis of existing electricity networks and future “smart grids”. Part 1 paper presents input data, parameters and models required for a comprehensive assessment of system reliability performance, including an overview of the overall and guaranteed standards of performance in the UK and Italy. This paper presents scenarios and results of both analytical and probabilistic reliability assessment procedures for the test network introduced in Part 1 paper.