Our Guildford Branch team member and Network Rail Signalling designer, Simon Paley, takes a look at the 3rd and 4th Rail electrification systems. In his Part 1 Skrifa post here he described the background and design, in this Part 2 post he provides a step by step guide how to install 3rd and 4th rail on your layouts. In his final part 3 in the series he discusses the conductor rail accessories and other relevant lineside details.
Conductor Rail Installation
Once you have, using the information in the Part 1 Skrifa post here, decided where your third rail is going to be fitted, you can start fitting it.
PECO has provided a video instruction guide here:
However, when installing third rail on my new exhibition layout, I have found a slightly easier installation method:
1. Remove the Peco IL120 Conductor rail insulators from the sprue, I don’t bother with the washers provided as they are too fiddly for my liking. I also don’t bother painting the insulators as there are generally white porcelain anyway (although there are newer grey plastic ones as well).

2. Having measured (by eye mostly) the rail lengths I need, I cut the rails where necessary using a slitting disc, but a pair of XU2175 Xuron Track Cutters will work just as well.
I bend in a ramp and then join the rails together using PECO Z Gauge Code 60 Rail Joiners.
3. Using a 0.8mm drill bit in a pin vice such as the GM577 Gaugemaster Pro Archimedean Drill Set, I drill the holes for the insulators as per the dimensions and diagrams in Part 1.

4. I then thread the insulators onto the rail by holding the insulators on a work surface and poking the rail end on through the insulator.
5. I then space the insulators out roughly before trail fitting them into the pre-drilled holes.

6. I remove the conductor rail, being carefully not to move the insulators too much then apply glue to the holes before pushing the insulators back into holes. I use AD-55 Deluxe Materials Glue and Glaze as it gives a quick strong bond and dries clear. 
7. Once the glue has tried, I hand paint the rails using a rust coloured paint. Whilst the rust colour may not be fully prototypical, I want the third rail to stand out slightly. 
As my layout is to be taken to exhibitions, I have to ensure that the conductor rail is not damaged when splitting the baseboards. For this I put a PECO Brass Track Pin at the baseboard edges and solder the conductor rail to it.
Conductor rail accessories and other lineside equipment is the subject of his Part 3 post here.
Further Reading
Although not 3rd or 4th Rail related check out Simon's book Colour Light Signalling for Model Railways.
ISBN: 9781785006258 Published in October 2019.