It is observed that wind energy is one of the world’s fastest growing and emerging energy sources. The amount of power generated by wind energy usually depends on the wind speed. Because of the intermittent and fluctuating wind speed they are not suitable to micro grid applications unless proper power and energy management strategies are available in place. Hence a suitable and acceptable method of providing stable active, reactive power is necessary. Hybrid power systems are proposed basically to overcome the problems with various energy storage and power management strategies. Electrolysers (ELs) and Fuel cells (FCs) have high energy storage density that makes them suitable for long term energy storage systems. A closed loop control system is presented in this paper, which is well adapted to integrate the power management strategies. Two power management strategies are presented and simulated under normal and abnormal conditions. In this paper it has been observed that the “source following strategy” has better performance on the grid regulation than the “grid following strategy”. With the long term energy storage systems under abnormal conditions, power is absorbed or compensated as per the system requirements.