A single-phase local cost control intelligent electric energy meter comprises a current sampling circuit and a voltage sampling circuit. Current signals and voltage signals are input in a metering chip, and a sampling module, a hardware multiplying unit and a pulse output module are arranged in the metering chip. Voltage value, current value and reverse electric quantity obtained by the metering chip are input to a microcontrol unit capable of converting pulse output by the metering chip into the electric energy through a serial peripheral interface (SPI). The input end of the microcontrol unit is connected with a communication module, a display module, a storage module and a control module respectively. The control module comprises an integrated circuit (IC) card unit and a tripping blackout unit. The output end of the IC card unit is connected with the input end of the microcontrol unit, and the input end of the tripping blackout unit is connected with the output end of the microcontrol unit. The electric energy meter further comprises a main power supply, an auxiliary power supply and a clock circuit. The electric energy meter has the advantage of being capable of adapting to standards of intelligent electric energy meter series of the state grid corporation of China, high in safety and low in cost.