The State Government says it is acting to reduce Victoria's reliance on brown coal, despite ending talks about the phased closure of the Hazelwood Power Station.
Environment groups and the Opposition have accused the Government of not having a plan to address climate change.
Premier Ted Baillieu says the Government is investing in renewable energy.
He says the Government is determined to ensure the introduction of a carbon price by the Federal Government does not damage Victoria.
"What we want to know is what the impact will be on the Victorian economy, what the impact on jobs will be, what the compensation will be and what will be achieved," he said.
"Now we are not about to embark on any measures which unduly disadvantage the Victorian economy or Victorian businesses or indeed householders who pay the bills."
Mr Baillieu says the Government has taken steps to reduce carbon emissions.
"We've set aside funds in the budget for additional direct action measures. That involves a $40 million clean energy fund," he said.
"It involves additional direct action on replacement of street lights and tree planting action.
"We will continue to press for a systemic resolution out of Canberra."