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Nowadays, the power system is evolving into a complex cyber physical system with the closely merged physical system, information system, and communication network. It is critical to understand the connections between the power and cyber systems, and the potential impact of cyber vulnerability. In this study, a flexible hardware-in-the-loop (HIL) testbed is proposed for studying the cyber physical power system. By using the flexible interface, various co-simulation systems for different purposes are generated. Based on this testbed, three sample co-simulators are built as proofs. First, a HIL power and communication co-simulator with non-real-time synchronisation mechanism is introduced, and a case of false data injection attack on automation voltage control is studied. Then, a real-time power and communication HIL co-simulator is introduced, and a case considering the impact of communication bit error on the stability control system is simulated to demonstrate the performance of stability control equipment. Finally, another co-simulator for simulating the actual cyber-attack on the stability control system is introduced, and a case of a man-in-the-middle attack on the data link is simulated to demonstrate the impact of cyber-attack on the stability control system.