The invention relates to a method for forming an electric energy metering simulation system and a device thereof, which are used for real-time simulation research on reactive electric energy metering, power grid harmonics analyzing, power grid harmonics electric energy metering and signal processing in electric energy metering, energy meter comparison and energy meter performance test, and are applicable to power grid electric energy metering field to solve the problems of absence of special electric energy metering simulation research means and devices, incapability of developing electric energy metering theories, meter operating principles, comparison and the like in the above researches. The method for forming an electric energy metering simulation system is characterized by comprisingthe steps of constructing a metering algorithm model library, an electric energy metering visualized interface, a standard source model library, a MATLAB software platform, a DSPACE real time system,a standard source signal, a GSP module, a signal conditioning circuit, a sensor and an actual load. The formation method provides open search means for electric energy metering basic theories, and can form a visual energy meter, an electric energy metering simulation and field replaying system and an electric energy meter comparison device respectively by selecting specific modules in the electric energy simulation system.