Existing power systems are undergoing a revolutionary transformation due to high level of installation of renewable energy resources. The ultimate goal of this transformation is to reinforce the energy security and sustainability for the future. This transformation, however, brings computational complexities for the power system operators. Therefore, the development of accurate and flexible simulation tools with very high computational performance is indispensable. An industry chair to deal with simulation of transients for large scale power systems has been granted to Polytechnique Montreal. The Canadian industrial partners in the chair are Hydro-Quebec and Opal-RT and the two European partners are Électricité de France (EDF) and Réseau de Transport d’électricité in France (RTE). The chair proposes cutting-edge adaptive solution techniques for multi time-frame simulations. However, further extensive researches are required for development of a concrete and comprehensive simulation tool which will address a broad scope of modern power system requirements, in particular, accuracy, flexibility and computational performance. The proposed tool must provide a mechanism to automatically adjust model complexity, solution domain, and numerical integration time-step to acquire the desired level of accuracy for the studied phenomenon depending on its frequency content. This feature is referred to as ‘Precision Navigator’ capability. To this end, we propose the following tasks: ‘ Combining the classic numerical integration approach used in the electromagnetic transient (EMT)-type solver, with phasor domain solution and frequency dependent network equivalences. ‘ Interfacing EMT-type solvers with dynamic phasor solvers. ‘ Concatenation of solutions to switch from time-domain to phasor-domain. ‘ Use of integration techniques with variable time-steps. Keywords: Power system, Electromagnetic transient, time-domain, dynamic phasor, Precision navigator, Co-simulation, frequency dependent network equivalence (FDNE), integration technique