In the paper dynamics of simplified control system of two-motor electrical AC drive with frequency regulation its speed is investigated. Mathematical model of the drive is constructed via electromagnetic processes agreement by taking into account elasticity of transmissions. The formulas to determine the optimal parameters of digital regulators for stator currents of the motors and speed of the drive are given. Simulation results obtained in the Matlab are presented. It is established that considered system of the drive guarantees optimal dynamic characters as well as exact distribution of loading between the motors.