The occupational accidents have a major impact upon human integrity and also bring about high costs for the social health and insurance system of a country. In addition, risk analysis is an essential process for the safety policy of a company, having as main aim the effacement of any potential of damage in a productive procedure, while the quantified risk evaluation is the most crucial part of the whole procedure of assessing hazards in the work. The main goal of this study is double: a) the development and presentation of a new hybrid risk assessment process (HRAP) and b) the application of HRAP in the Greek Public Power Corporation (PPC) (the unique electric power provider and the largest industry in Greece), by using occupational accidents that have been recorded, during the 12-year period of 1993-2004. The new process consists of four distinct phases a) the hazard sources' identification phase, b) the risk consideration phase, c) the risk-evaluation phase, and d) the phase of the risk assessment and safety-related decision making. The results show that in some cases the risk value has been calculated in PPC to be higher than 500 (in the risk rating of 0-1000), which imposes the taking of suppressive measures for abolishing the danger source, while the fatal accident frequency rate (per 10(8) man-hrs) is FAFR congruent to 2.4. (C) 2011 Elsevier Ltd. All rights reserved.