The integration of Internet of Things (IoT) and cloud computing are always seen as promising technologies to enhance streamlined data collection, share and exchange. Although the advances in edge computing, particularly mobile edge computing (MEC), could enhance the performance of data collection and computation via computing offloading, security and privacy impediments have made new challenges to data integrity and confidentiality, in particular when multiple edges or nodes at different locations collect IoT data. Homomorphic encryption therefore has shown promising advantages for cloud computing, offering arithmetic operations to be carried out on the encrypted data without revealing the secret key. While fully homomorphic encryption introduced by Gentry, in 2009, allows both additive and multiplicative operations, it has shown significant implementation drawbacks due to the parameters generation and memory consumption. In this work, we focus on partially homomorphic encryption, which can be efficiently computed. However, it is challenging to add authentication feature for the verification and aggregation capability. We propose a novel secure and privacy preserving authenticable homomorphic encryption (AHEC) scheme. We demonstrate an application of our AHEC scheme for MEC-based IoT systems and provide security analysis to prove that our scheme is secure against chosen plaintext attack (IND-CPA) and unforgeability (UNF) under DDH-ZN2 and Lift-DH-ZN2 assumptions. Experimental results show that our proposed scheme is efficient for practical applications.