This paper develops a conversion function and method transforming from daily peak load curve used LOLE D [days/ year] to hourly load curve used LOLE H [hours/year]and describes relationship between LOLE D [days/year] and LOLE H [hours/year]. The indices can not only be transformed just arithmetically but also have different characteristics physically because of using their different load curves. The conversion function is formulated as variables of capacity and forced outage rate of generator,

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... ourly load daily load factor and daily peak load yearly load factor, etc. Therefore, the conversion function (  ) can not be simple. In this study, therefore, the function is formulated as linear times of separated two functions. One is an exponential formed conversion function of daily load factor. Another is formulated with an exponential typed conversion function of daily peak load yearly load factor. Futhermore, this paper presents algorithm and flow chart for transforming from LOLE D [days/year] to LOLE H [hours/year]. The proposed conversion function is applied to sample system and actual KPS(Korea Power System) in 2015. The exponent coefficients of the conversion functions are assessed using proposed method. Finally, assessment errors using conversion function for case studies of sample system and actual system are evaluated to certify the firstly proposed method.