This work proposes the implementation of a simulator to investigate the dynamic behavior and the stability of electric power systems. A new approach to linear electric network simulation is introduced, closely following the EMTP basic techniques and models, but taking advantage of multirate digital filter properties. The final simulator decomposes signals and network models into subbands of frequencies, each of them independently operated, allowing parallel processing The integration time step in the subband simulations is always maximized, reducing computational burden. The simulation permits online detection of subbands that could be momentarily disconnected with negligible loss of accuracy in the final result. This adaptive feature further improves efficiency, adjusting the network model complexity, according to the simulation requirements.