Energy Minister Angus Taylor has told energy suppliers to “step up” and invest in new on-demand power generation capacity in Victoria to offset the early closure of EnergyAustralia’s huge Yallourn brown coal plant.

The federal government would “hold industry to account” on the dispatchable power generation capacity needed to keep electricity affordable and reliable, Mr Taylor said after EnergyAustralia advised it had brought forward the shutdown of the 48-year-old generator from 2032.