Industry Minister Greg Hunt will meet with Australia's energy executives to discuss a looming gas shortage credited for job losses and spiralling consumer costs.

Mr Hunt and Resources Minister Matt Canavan have criticised bans on natural gas extraction and exploration and will discuss the shortage with executive from Santos, Shell, Origin and Esso.

"Gas is a major issue for Australia," Mr Hunt said.

"We have had states and territories put in place bans and moratoriums on natural gas; the very thing we use for our cooking, for heating our water and for so much of our home heating.

"In manufacturing, where gas is a critical input, there is a looming shortage."

Consumer advocates have warned the cost of gas bills in Victoria may jump by 9 per cent for the average household next year, partly because of the looming closure of the Hazelwood power station.

Earlier this week, Australian's largest domestic wool producer, Victoria Wool Processors, warned it may be forced to close because natural gas suppliers are unable to meet its business demand.

Mr Hunt said ensuring a greater supply of natural gas would reduce carbon emissions and increase job opportunities for Australians.

"We need to take action on ensuring natural gas supplies are available to all Australians," he said.

The meeting with energy executives comes before the Council of Australian Governments (COAG) meets on Friday to discuss energy security, nearly two months after a state-wide blackout in South Australia.

It also comes on the same day the Government announced a carbon price for power companies would be considered as part of a climate change review.

Energy Minister Josh Frydenberg told the ABC there were a range of views on energy security and renewable energy in each political party.

"After what we saw in South Australia recently ... we have to bear in mind what the implications are of our policies," he said.

Opposition Leader Bill Shorten said Labor would not accept partial responsibility for gas shortages with the Victorian Labor Government banning further gas development.

Mr Shorten said a natural gas interest test would address the shortage, rather than a national gas reserve.

"I think the interest test is sufficient for the circumstances," he said.

Gas moratorium 'not the right approach'

Senator Canavan said state and territory governments were hurting businesses and households with spiralling prices.

"Unfortunately, a number of state governments have put in place blanket bans on the development of gas," the Resources Minister told Radio National.

"In Victoria's case, a remarkable moratorium on conventional gas, not just unconventional gas, and the Federal Government does not believe that's the right approach."

Senator Canavan said governments should assess gas projects on a case by case basis.

"We are facing shortages of gas right now and certainly pressures on the market and we expect [that will] exacerbate over the next five years," he said.

"It is incredibly important, particularly for certain parts of the manufacturing industry, petrochemicals and the like, that they have access to affordable gas."