Most of present day electric power network simulation techniques are based on computational platforms of the EMTP type. Basically, following this approach, the simulation method transforms the electric lumped components and the network topology into a recursive mathematical procedure. For each new integration step the network solution is evaluated as a function of previous state and present input values. Small integration steps increase solution accuracy, by extending the frequency band. However, this also increases computational requirements, limiting network size, frequency bandwidth or affecting the procedure response time. This conflicting situation hes been attacked by many researchers, mostly looking for different forms of increasing the integration step.This work introduces a new approach to linear electric network simulation. Although closely following the EMTP basic techniques, the method leads to a different set of equations, more convenient to conjugate with multirate digital filtering techniques. The final result is the decomposition of signal and network models into subbands of frequencies. Each of the network subband simulations is performed with maximum integration time step, always representing minimum computational burden. Moreover, the procedure allows to on-line estimate if a particular subband model output has negligible contribution to the final simulation result. While this situation remains, the corresponding module operation is suspended, reducing the computational load. As a result, the simulator is able to adapt its model complexity, on line, according to the simulation requirements. Distributed transmission line models are introduced, connected to the lumped network parameter models. A specific computational procedure is shown to operate the overall system.Illustrative cases are included, supporting the simulator proposed efficiency when compared to conventional procedures.