Relying on the power data accumulated by enterprises for a long time, the power data service serves the internal operation of the company and the external service of the government decision-making, etc. And it also plays an important role in the national economic development and the construction of a new power system. Power data service cost measurement can provide decision-making reference for enterprises to study and judge the development trend of power data service. However, the method of measuring the cost of power data service is still blank. Therefore, this paper puts forward the power data service cost measurement mechanism based on the whole life cycle. First, power data services are classified according to their characteristics. Then, the life cycle of power data service is proposed, and the cost composition of power data service is analyzed. Finally, according to the characteristics of power data service, three kinds of power data service cost measurement models are constructed.