Electromagnetic transient simulation can be used to model complex non-linearities that very difficult to represent adequately in the frequency domain. This problem is greatly reduced with the use of frequency dependent network equivalents for the linear part of the system. S-domain rational function fitting techniques for representing frequency dependent equivalents have been developed using Least Squares Fitting(LSF). However it does not suffer the implementation error that exited in this work as it ignored the instantaneous term. This paper presents the formulation for developing 2 port Frequency Dependent AC System Equivalent(FDACSE) with the instantaneous term in S-domain and illustrates its use. This 2 port FDNE have been applied to the New Zealand AC system. The electromagnetic transient package PSCAD/EMTDC is used to assess the transient response of the 2 port (FDACSE) developed with Norton Equivalent network. The study results have indicated the robustness and accuracy of 2 port FDACSE for electromagnetic transient studies.