The invention discloses an electric power data multi-way communication system. The electric power data multi-way communication system comprises a main station terminal, a PLC (programmable logic controller) network, a centralizer and a meter, wherein the main station terminal, the centralizer and the meter are subjected to communication and coupling through the PLC network. The electric power data multi-way communication system further comprises a centralizer end module arranged at the centralizer end as well as a meter end module arranged at the meter end; the centralizer end module is connected with the meter end module through an electric power line protocol. The invention also discloses a multi-way centralized meter reading system. According to the electric power data multi-way communication system and the multi-way centralized meter reading system disclosed by the invention, communication modules are intelligent nodes, and intelligent modules interact for instant networking, and the networking is not controlled by the centralizer; real-time, rapid and stable communication is achieved; the antidamping and noise resistant capabilities of the systems are improved further on the networking mechanism based on a physical layer by fully utilizing the intelligent characteristic of a chip of the physical layer; the technical difficulties of network time and sequence, network conflict, network efficiency, effective detection of repeated data packets and the like are solved based on the chip CSMA (carrier sense multiple access), and the stability and reliability of communication are ensured.