Under the background of ubiquitous Power Internet of Things construction, which realizes the interconnection of all things in the power system and human-computer interaction through advanced communication technology, new requirements were put forward for power data collection terminal to realize the goal of comprehensive sensing of power grid status, efficient information processing and convenient and flexible application. This paper introduces the structure, principle of a new single-phase fee-controlled fiber-optic network smart power meter (patent name - multi-function integrated meter) and the realization of electricity information acquisition and processing system. Through actual testing, the electricity information collection system based on single-phase fee-controlled fiber-optic network smart power meter provides sufficient and effective information and data support, and become a new source of growth for power big data, which brings critical application value.