The new generation of smart substation is a summary and improvement of the earlier intelligent substations. As a part of the substation, the electric energy metering system must adapt to the requirements of the new generation smart substation which is more intelligent, full digitalization, networked and integrated. With the features of digitized, easy information sharing, and hardware shared, the digital measurement system is the inevitable choice for the new generation smart substation. This paper is the first literature to introduce the concept and structure of the digital metering system. The composition and technical characteristics of the new generation smart substation measurement system are introduced in detail.