With the application of intelligent substation in smart gird, electronic instrument transformer has become an important hub of energy metering equipment, and is the important device of user’s power trade settlement. In order to deal with the risk in the process of electricity metering trade settlement for electronic transformer caused by different factors, such as equipment, human and management and so on, it proposed the risk assessment method of electricity metering trade settlement for electronic instrument transformer based on principal component analysis and analytic hierarchy process. Firstly, it analysis the risk factors of power metering trade settlement for electronic transformer, and the comprehensive evaluation indexes of power metering trade settlement for electronic transformer is put forward from the third aspects of equipment reliability, objective conditions and management level of the enterprise. Secondly, an objective and subjective weighting method is proposed to combine principal component analysis method with analytic hierarchy process. It first extracts the principal component index of comprehensive evaluation indexes of power metering trade settlement for electronic transformer by principal component analysis method. Then, it uses the analytic hierarchy process to determine the weight of the evaluation indexes, according to the extracted principal component indexes. It greatly reduces the computation for the evaluation without affecting the comprehensive evaluation of the premise. Finally, a typical actual case verifies the feasibility of the proposed comprehensive evaluation method in Tianjin City.