Although stochastic point process theory has been successfully applied in many fields of knowledge, in power systems reliability it has not received so much attention what is reflected in the low number of reported applications. This may be due to some common misconceptions about the modeling of repairable components which falsely show this method is the same than other popular ones. All these misconceptions originate in the incorrect practice of analyzing the reliability of repairable components using concepts that were developed only for non repairable ones and, specifically, in the misleading idea that a stationary random process model can represent a non stationary random process. This paper discusses these misconceptions expecting clarity of concepts can foster the development of more applications of this theory in power systems reliability.