The federal government's top energy adviser Kerry Schott says the plunging cost of renewables will force Australia's remaining coal plants to close even earlier than planned, as mining giant BHP renewed calls for a price on carbon to urgently slash national emissions.

The Morrison government's failure to produce an emissions reduction plan for the electricity sector and general inaction on climate change have been credited with helping to drive a massive negative swing in the Wentworth byelection, which is expected to cost it the seat and force it into minority government.

The nation's energy ministers are due to meet in Sydney on Friday to discuss the Morrison government's bid to lower prices and improve reliability. Efforts to cut greenhouse gas emitted by electricity generators are not on the agenda.

Respected energy chief Kerry Schott. Credit:Alex Ellinghausen

The federal Coalition insists coal will remain a vital part of Ausralia's energy mix for decades, despite a major UN climate report this month calling for the industry to close down by 2050 to avert the worst climate disasters.