The capability of domestic heat pumps to provide dynamic frequency response to an electric power system was investigated. A thermal model was developed to represent a population of domestic heat pumps. A decentralized dynamic control algorithm was developed, enabling the heat pumps to alter their power consumption in response to a system frequency. The control algorithm ensures a dynamic relationship between the temperature of building and grid frequency. The availability of heat pumps to provide low-frequency response was obtained based on data supplied by Element Energy. Case studies were carried out by connecting a representative model of the aggregated heat pumps to the regional Great Britain (GB) transmission system model, which was developed by National Grid. It was shown that the dynamically controlled heat pumps distributed over GB zones have a significant impact on the GB system frequency and reduce the dependency on frequency services that are currently supplied by expensive frequency-sensitive generators. The rate of change of frequency was also reduced when there is a reduction in system inertia.