A Traction Power Supply System (TPSS) supplies electricity for train propulsion on electrified railways. In many countries, electrified railways have single-phase low-frequency AC power systems fed by frequency converters (FCs). Outages of power will significantly weaken the TPSS, cause operational problems and ultimately lead to traffic disruption in the form of speed reduction, train delays, or cancellations. The aim of this study is to propose an approach to analyse the reliability of power conversion capacity to discover the reasons for ‘loss of load”. The paper assumes train delays are caused by converter outages, shortages of reserve power capacity for unexpected train loads, or a combination of the two. It considers the availability performance of the converter station and evaluates the reliability of the conversion power capacity. It proposes a power-traffic factor (PTF) to aggregate and quantify train power demands. The PTF can be related to the availability of traction power capacity and will identify areas with risks of power shortages. The study finds the shortage in power leading to train delays in some regions of the system is due to a shortage of reserve power capacity