Prospects of a longer-term role for coal-fired power have been eliminated, after energy ministers vowed to redesign electricity market changes aimed at guaranteeing enough reliable power as the grid moves to renewables.

Federal, state and territory energy leaders also agreed at a meeting on Friday in Canberra to fast-track critical transmission projects including Marinus, HumeLink and VNI West as part of measures aimed at easing energy prices and preparing for a decarbonised energy market.