It is one of a range of new measures being discussed as part of the blueprint for the city over the next decade.
Police in Exeter say they are working with partner agencies to meet the ambitions outlined in the document.
And improving the safety of the city's night-time economy is one of the priorities.
Among the measures being considered and implemented are:
Early morning alcohol restriction orders – limiting pub/club drinking hours;
Identifying and reviewing the top 10 problem premises;
Introduction of taxi marshalls;
Reviewing the licensing of sex establishments – such as lap-dancing clubs and sex shops;
Expanding the city's Child Safe Zone beyond the Guildhall Shopping Centre.
Community safety sergeant for Exeter Beverley Weston said: "All these measures are very positive – anything which can contribute to keeping the public safe is going to be a good thing.
"This is about partner agencies working together – everyone has to have a collective responsibility."
"It is not just up to one agency to deal with something."
Sgt Weston said the introduction of the new alcohol restriction order could be a "flexible" power which would work to reduce issues associated with the city's nightlife.
She said: "The early morning alcohol restriction order is a new power which came into force in October. Nationally it has not yet been used much, but councils are discussing it.
"There is a healthy debate to be had about this power.
"If the hours are brought back, there is the theory that people may go out earlier, they would not 'pre-load' on alcohol as much and would spend more money in the city."
Several of the measures discussed in the city council's document have already been introduced in Exeter – including the H20 Project which has seen the installation of water machines in a number of the city's pubs and clubs.