At present， since the method used in the pricing of electric energy is based on the weighted mean power factor in China， the time-varying load characteristics of users cannot be reflected. Therefore， the users of the different load characteristics cannot be differentiated and treated with respectively in the way of the pricing of electric energy. To overcome this defect， a method of electric metering considering accurate power factor is presented. The active power and instantaneous power factor are computed timely by the means of MCU， then the adjusting electric-fare ratio is also computed with the standards of power factor， and the electric energy considering accurate power factor can be accumulated in the end. Two kinds of electric metering algorithms are introduced as the current algorithm of electric metering considering power factor and the algorithm of electric metering considering accurate power factor. Then the local data using the two kinds of methods are computed respectively. Moreover， it is analyzed that the method of electric metering considering accurate power factor is more scientific and reasonable. According to the computation of and analysis on the local data， the result indicates that the method proposed can better reflect the time-varying load characteristics. It is proved that the method above has the characteristics of the simple algorithm and scientific electric metering， so it can promote the positive incentives of users effectively to use electric energy rationally and frugally.