In order to evaluate the reliability of different grounding cable network, the tripping-rate models when single-phase fault occurs in the line under Petersen coil and low resistance grounding mode are discussed, and the influence on load point’s reliability from fault isolation and load transfer is analyzed by combining the characteristics of two grounding modes. By taking advantage of the minimal path method based on the failure mode and effect analysis, different reliability indexes in long-term and short-term are built based on grounding modes. Finally, the cable network reliability of a city in Guangdong is evaluated. The results show that the reliability of Petersen coil grounding mode is higher than that of low resistance grounding mode. But the advantages of Petersen coil grounding mode are less obvious along with the closer connection of the feeders. The conclusions could provide reference for choosing neutral point grounding modes in cable distribution network. This work is supported by National Natural Science Foundation of China (No. 51577068).