Ottery could take ownership of its Christmas illuminations if a working party exploring the option gives it the green light.
A motion to create the group was passed at Ottery Town Council's meeting held at the start of January.
If the party finds it suitable for the authority to purchase its own lights, the town could enter into a share and swap agreement with other towns.
At present, the town council rents its Christmas lights from a firm in the Torbay area - the authority's chairman, Cllr Roger Giles, said owning them would be much more cost effective.
He said: "In year one, we would spend more money but in the subsequent years, we would be saving money.
"In the long term, it should save the council quite a lot of money. It is a good thing to engage with other town councils - we will have to see how it pans out."
Other East Devon towns which own their own Christmas lights for their festive displays include Honiton and Axminster.
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