This paper derives two new algorithms to calculate the expected energy generated and the reliability indices of a generating system when the loading order of the generating units and the load data of the system are given. These algorithms use the probabilistic simulation model considering the two-block system, and can be easily extended to the three or more block system if necesssary. Suggested model I is a more improved algorithm from the conventional ones, in which the load duration curve is used as is in any other conventional algorithms. And model II, by using the newly developed " ENERGY CURVE", remarkably saves the computing time with reducing the computational errors. Case studies were carried out for the actual load data of Korea Electric Company.c Company.