This paper reviews available power system simulation software for modelling modern electrical grids. Due to the global goal of achieving carbon neutrality, the existing conventional grids and microgrids become more complicated because they must accommodate renewable sources like wind and solar. This requires more advanced power system modelling and computer simulation tools. Given the variation in power generated from renewable resources, there is quite an essential consideration of accurate simulation so that grid can be managed appropriately. This review highlights the need for efficient modelling and simulation tools for the planning and designing of present and future sustainable energy systems where changing user needs are catered for. The review presents an overview of different open source and commercial power system software options by analysing their key features and comparing their strengths and limitations across different application domains to help researchers and practitioners choose the most suitable tool, for their specific requirements.