A method of managing a prepaid smart measurement and control terminal and a prepaid smart measurement and control terminal utilizing the same are disclosed. The terminal comprises a CPU interface (101), a memory (102), a keyboard input unit (103), and a processor (104). The CPU interface (101) is connected to a CPU card. The memory (102) is configured to store electricity management information. The keyboard input unit (103) is configured to receive first encoded information input via an external keyboard, wherein the first encoded information is configured to modify electricity information. The processor (104) is configured to modify, according to the first encoded information, the electricity management information in the memory, and store new electricity management information after the modification into the memory (102). When the CPU interface (101) is connected to the CPU card, the electricity management information after the modification is transmitted to the CPU card via the CPU interface (101).