Large scale electrolyzers have the ability to become a fundamental tool for grid stability, especially for frequency regulation. Alkaline electrolyzers (AELs) have low costs and long lifetime, but their slow dynamics make them unsuitable for fast frequency regulation, especially in case of contingencies. Proton Exchange Membrane electrolyzers (PEMELs) have fast dynamic response to provide grid services, but have higher costs. This paper proposes a dynamic power allocation control strategy for hybrid electrolyzer systems to provide fast response for frequency regulation with reduced costs, making use of advantages of AEL and PEMEL. Simulations and experimental results validate the proposed control strategy.