This article aims to address the reliable quantized sampled‐data load frequency control (LFC) synthesis problem for semi‐Markov jump interconnected multi‐area power systems (IMAPSs) suffering from incomplete transition rates (TRs) and actuator failures. Primarily, the semi‐Markov process configurated with incomplete TRs is utilized to model the structural and coefficient switchings of IMAPSs, which enables a more precise representation of reality and a wider range of application. Subsequently, in order to reduce the control cost and facilitate data processing, an aperiodic quantization sampling mechanism is introduced. Furthermore, a mode‐dependent and comprehensive actuator faulty model is scheduled to portray various stochastically occurring actuator failures, which is more in line with practical application. Then, by fully utilizing the state information of sampled intervals, a two‐sided looped functional with some matrices that are not required to be strictly positive is constructed to enhance the flexibility. In what follows, on the basis of stochastic analysis technique and looped functional, sufficient conditions with two scenarios are established in the form of linear matrix inequalities (LMIs) to guarantee the stochastic stability with an performance of the resultant semi‐Markov jump IMAPSs. Finally, the effectiveness of the proposed control synthesis methodology is validated through a numerical simulation.