Incorporation of fog computing with low latency, preprocession (e.g., data aggregation) and location awareness, can facilitate fine-grained collection of smart metering data in smart grid and promotes the sustainability and efficiency of the grid. Recently, much attention has been paid to the research on smart grid, especially in protecting privacy and data aggregation. However, most previous works do not focus on privacy-preserving data aggregation and function computation query on enormous data simultaneously in smart grid based on fog computation. In this paper, we construct a novel verifiable privacy-preserving data collection scheme supporting multi-party computation(MPC), named VPDC-MPC, to achieve both functions simultaneously in smart grid based on fog computing. VPDC-MPC realizes verifiable secret sharing of users’ data and data aggregation without revealing individual reports via practical cryptosystem and verifiable secret sharing scheme. Besides, we propose an efficient algorithm for batch verification of share consistency and detection of error reports if the external adversaries modify the SMs’ report. Furthermore, VPDC-MPC allows both the control center and users with limited resources to obtain arbitrary arithmetic analysis (not only data aggregation) via secure multi-party computation between cloud servers in smart grid. Besides, VPDC-MPC tolerates fault of cloud servers and resists collusion. We also present security analysis and performance evaluation of our scheme, which indicates that even with tradeoff on computation and communication overhead, VPDC-MPC is practical with above features.