To counter the inherent intermittent and unpre dictable power generation from large amounts of wind and solar, fast-acting resources are required, one of the options being sector coupling via power to gas devices. Industrial Power to Gas (IPtG) resources, such as an electrolyzer, represent an attractive solution to satisfy the rising energy flexibility needs of renewable-rich power systems. Since these electrolyzers can be asked to respond quickly following steep power ramps of renewables, it is imperative to understand their capabilities and limitations in fulfilling such requirements. The contribution of this paper is twofold. First, we introduce a detailed model of a Proton Exchange Membrane (PEM) electrolyzer suitable for power system flexibility studies. Second, using this model we assess large scale electrolyzer as a flexibility service provider (FSP) to the grid. To evaluate electrolyzer performance, we construct the V-I characteristic curve before and after simulating each test case to derive insights on the influence of time and dynamic operation on the electrolyzer system.@en