The Poolbeg chimneys in Dublin may have to be encased in fibreglass or concrete to be preserved.
The iconic twin stacks were built in the 1970s and were decommissioned by the ESB more than 10 years ago.
A medium-term maintenance programme is expected to cost several million euro.
For longer-term preservation, Dublin City Council says major interventions are needed - which may "alter the appearance and integrity of the structures as originally designed".
Green Party Councillor Claire Byrne says the structures are now a heritage issue.
She said: “Hopefully it could be done in such a way that we may be able to at least maintain them, and repaint the red and white so we’re not completely losing them altogether.
“They’re a bit marmite, let’s be honest, but I think generally we can all agree they’re an iconic part of the landscape of Dublin - they’re fundamentally Dublin."
She said that any safety issues around the structure need to be taken seriously.
However, she's called for the chimneys to be put on the protected structure list - saying there's also a "need to do everything we can to ensure they stay as much as they are".
