The fixed capacitor-magnetically controlled reactor (FC-MCR) is a type of static var compensator (SVC) that can greatly contribute to the availability and stability of power systems. This paper proposes a comprehensive reliability model for the FC-MCR using the Markov process approach. The modeling process adheres to actual operational principles and divides the MCR structure into two sections: electro-magnetic section and core magnetization section. Subsequently, the Markov models proposed for these sections are integrated with the Markov model of the fixed capacitor bank to derive the FC-MCR reliability model. Recognizing the impact of environmental conditions on electrical equipment failure rates, the proposed reliability model takes into account temperature variations and assesses their influence on the probabilities of the FC-MCR operating state. By examining the simulation results and conducting sensitivity analysis, it was found that the availability of the FC-MCR is influenced by various components and environmental conditions, which necessitates different reliability enhancement measures. Moreover, a comparison between the reliability indices of the FC-MCR and its counterpart (FC-TCR) in diverse environmental conditions revealed that the FC-MCR is less affected by temperature variations compared to the FC-TCR. پرونده مقاله