This study presents a numerical simulation of a pump’s performance during a power-cut event and connected hazards resulting from the failure of non-return flap valves. The vertical mixed-flow pumps with suction bells were mounted inside the suction basins of a pumping station. Different regimes of the pump operation during the time were analyzed based on the pump’s 4-quadrant characteristics and the dynamics of rotating parts in the pump, gearbox and electric engine. The resulting development of flow rates, rotor speed and forces in the course of time were used to analyze the hazards of failure of any pumping system component and the flooding of the suction object and its surroundings. The presented results show a deep insight into the flow phenomena in vertical mixed-flow pumps with suction bells during the runaway process and confirm that the developed methodology can be successfully applied to monitor the critical regimes in a pumping station in real time. The simulations were verified with some experimentally obtained data.