Electromagnetic transients (EMTs) are fast and decay within a few cycles. Since EMTs are fast, the simulation step size required to simulate an EMT is small, which may make the simulation of a power system with an EMT-type software computationally demanding. This paper proposes a hybrid simulation method called Time Warping (TW) method which makes use of the fast decaying nature of EMTs to accelerate EMT-type simulations. The idea is that small simulation step sizes are only required in the first few cycles following an EMT event where fast transients exist; when these EMTs have decayed and a steady-state is achieved, it is possible to warp to the next EMT event skipping the steady-state in between. The paper shows the effectiveness of the proposed time warping (TW) method by applying it to a simple test circuit and a practical network. The simulation results show that the proposed TW method is capable of accelerating EMT simulations while providing the same accuracy as a full EMT-type tool.