Power market analysis should be incorporated in reliability assessments of deregulated power systems. For the Nordic power system, this is done by using The Multi-area Power-market Simulator (EMPS) for long-term power market analysis, where EMPS finds the optimal socio-economic dispatch on a weekly basis, with respect to, e.g., hydro reservoir levels. The EMPS analysis results in a set of load and generation scenarios, and these scenarios are interpreted as a sample of future power market behaviour, and is used as basis for a reliability assessment. These load and generation scenarios are referred to as power market scenarios.The power market analysis produces a large number of power market scenarios, and to include all these scenarios in a reliability assessment results in excessive computation time. The scenario selection method is presented and discussed. Scenario selection is used to pick out a subset of the generated power market scenarios, to only use this subset of scenarios as a basis for the reliability assessment. It is shown that the scenario selection method can reduce the scenario set by about 90%, with little loss of accuracy in the reliability assessment.