STORMONT is expected to lift rules that restrict where Kilroot power station can source its coal.
The Co Antrim power plant's owners want to find an alternative to Russian coal due to the conflict in Ukraine.
EPUKI, which is ultimately controlled by Czech billionaire Daniel Kretínský, is permitted to burn low sulphur coal, which it has been sourcing from Russia. However, following the invasion of Ukraine, the company wants to buy its coal from elsewhere but requires Stormont's permission due to environmental regulations.
It has warned of increased costs to consumers if the rules aren't changed.
Environment Minister Edwin Poots said he wanted to prevent the importation of Russian energy sources into Northern Ireland.
He told the BBC "a course of work" needed to be completed before any change could be implemented.
"We'll go through the proper process, it won't take weeks, it will take days and we will engage with Kilroot, we'll engage with the Department for Economy and we'll follow due process," he explained.
"As far as I'm concerned I don't want to be putting money into Putin's pocket so that they can carry out further attacks on Ukraine."
EPUKI said it had significant stocks of coal in place and contingency plans to source alternative supplies.
"Since the start of the Ukraine crisis, EP Kilroot has chaired a number of roundtable workshops with officials from the Department for Economy, Northern Ireland Environment Agency, the Utility Regulator and System Operator NI (SONI) to urgently address the issues of the current permitting arrangements to enable EP Kilroot to remove its reliance on Russian coal," a statement said.
"If the permitting arrangements are not changed, we believe there will be significant security of supply risks that SONI will need to manage."
