The increase in hydrogen production to support the energy transition in different sectors, such as the steel industry, leads to the utilization of large scale electrolyzers. These electrolyzers have the ability to become a fundamental tool for grid stability providing grid services, especially frequency regulation, for power grids with a high share of renewable energy sources. Alkaline electrolyzers (AELs) have low cost 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 they have higher costs. This paper proposes a dynamic power allocation control strategy for hybrid electrolyzer systems to provide frequency regulation with reduced cost, making use of advantages of AELs and PEMELs. Simulations and experiments are conducted to verify the proposed control strategy.