Malcolm Turnbull and the state premiers will receive the final report of a review into the electricity sector next week.
The prime minister told a coalition partyroom meeting on Tuesday the government would not be responding to the report, compiled by chief scientist Dr Alan Finkel, with an emissions trading scheme or an emissions intensity scheme for the electricity sector.
Many mistakes had been made on energy policy in the past but his government would "solve the problem" of rising prices while keeping a lid on carbon emissions, Mr Turnbull said.
The comment came as coalition MPs endorsed legislation to allow the Clean Energy Finance Corporation to invest in carbon capture and storage.
The CEFC is a statutory authority set up in 2012 to leverage investment in clean energy, including the renewable, energy efficiency and low emissions technology sectors.
However it has not been legally able to invest in technology to capture and store emissions from coal-fired power stations.
Labor is expected to oppose the legislation.
Opposition energy spokesman Mark Butler has previously described the idea as "an outrageous act of vandalism".
The government argues Australia needs more baseload electricity and cleaner coal-fired power represents part of the solution.
