It comes after the council backtracked on plans to introduce a late-night levy despite initially calculating it could raise £160k from the measure.
An EMRO, if implemented, would restrict alcohol sales at premises which are authorised to sell alcohol after midnight for any period of time between midnight and 6am.
The Council’s licensing committee is to discuss the introduction of an EMRO at a meeting on 11 February and will issue a full consultation should it wish to push ahead with an EMRO.
Early discussions that the council has had with the police indicate introducing an EMRO could be a good idea for the town, with Northamptonshire’s police crime commissioner (PCC) Adam Simmonds showing some support for the measure.
Simmonds said: “I am very keen to work with partners on making the night time economies safer and any powers or policy which enables that to happen is a good thing.”
Councillor David Mackintosh, leader of Northampton Borough Council, said: “There has been much discussion in Northampton since the Government announced these new powers and the licensing committee has already discussed the change in legislation.
“The report proposes a recommendation to rule out a late night levy at this stage but I am interested in working with the police and licensed premises to look at whether an EMRO could work for Northampton.”
Councillor Christopher Malpas, chair of Northampton Borough Council’s licensing committee, said: “We will be making a decision based on the evidence placed in front of us. The council already works with the police and businesses to promote public safety and reduce alcohol related incidents, but we have a duty to consider whether any new proposals can help us do this better.”