Officials have not yet decided on specific measures, but sources told the Los Angeles Times an announcement could come by mid-July.
Power plants account for about a third of the country's greenhouse gas emissions, the Times said, and proposing to curtail the plants' pollution would likely begin a battle in Washington.
"There are only a few substantive, meaningful actions the administration can take short of dealing with existing power plants," S. William Becker, executive director of the National Association of Clean Air Agencies, said. "So I'd be extremely surprised if existing power plants weren't one of the top priorities the administration is pursuing."
The White House declined to comment on the deliberations, the Times said.
Obama identified climate change as one of his top priorities at the start of his second term, and three years ago, Obama pledged to lower the country's greenhouse gas emissions to 17 percent less than 2005 levels by 2020.
Although progress has been made, analysts and regulators said the United States cannot meet that goal without enacting new regulations or laws.
Swim Week Miami Beach 2014 [PHOTOS]