In　power　systems,　warm　standby　and　energy　storage　are　usually　employed　for　enhancing　system　reliability.　Warm　standby　as　an　energy-saving　redundancy　can　provide　performance　with　less　energy　consumption　comparing　with　hot　standby.　Apart　from　redundancy　technique,　the　energy　storage　devices　can　transfer　the　system　performances　between　different　time　periods　to　improve　system　reliability.　However,　there　is　a　lack　of　literature　in　the　reliability　analysis　of　power　systems　with　the　integration　of　both　techniques.　In　this　paper,　the　model　for　power　systems　with　warm　standby　and　energy　storage　is　proposed.　The　multi-valued　decision　diagram　(MDD)　technique　is　developed　to　achieve　the　reliability　assessment　of　the　proposed　systems.　The　illustrative　example　is　provided　to　verify　the　proposed　model　and　method.　©　2021　IEEE.