A type of thermal energy storage process for large scale electric applications is referred here as pumped thermal electricity storage (PTES), which based on a high temperature heat pump cycle which transforms electrical energy into thermal energy, followed by a thermal engine cycle which transforms the stored thermal energy back into electrical energy. PTES may be able to make a significant contribution towards future large scale energy storage needs, and without limitations in terms of geographical constraints, PTES may make use of different types of thermodynamic cycles and thermal storages. Due to little work in present literature can be found in-depth research on the dynamic characteristics of PTES, it is difficult to predict the dynamic performance of the system, develop the control strategy technology of operating process, or optimize the system design. A dynamic model of PTES system was built with Simulink and modular modeling approach on the basis of thermodynamic cycle. The dynamic response of working characteristics including compression and expansion ratio, compressor rotating speed, temperature, pressure, mass flow rate, power of PTES system were studied. The feasibility of power control and meeting the requirements of the public grid of energy storage power change were indicated, which providing computational tools and reference of control strategy and design optimization of PTES system.