Whether it is wise will be in the detail. Mostly the gas suppliers apart from Russia are not supplying less and are not producing less. Their costs may have risen marginally but their prices and profits have gone stratospheric. They won't willingly cut their prices down to mere very good profits, not even to prevent global economic disaster, even though perceptions of them as greedy and careless of consequences could conceivably harm their businesses over the longer term. As global recession could too.
Some nations are taxing the super profits, ie have made the cause of rising prices the source of some funding for price interventions, but where the gas industry has the ears of policymakers and influence they appear capable of turning this sense of crisis into an opportunity for growth, with taxpayer money flowing to them, rather than away, irrespective of their current extreme profitability. They will fiercely resist price caps at producer level - mostly successfully. It will be power companies that purchase fuels off them at inflated prices (some being subsidiaries and not actually separate) that will be needing assistance to prevent the costs flowing through - which may come directly or indirectly from funding support for price differences at consumer level.
I think we do need to see this as short term. Longer term will see greatly increased commitment to renewable energy and to the things that weren't done to make it constantly available... because gas was, we were assured, able to do it much cheaper and more reliably, which everyone except Greens supported. I expect that their failure to deliver that reliable supply at low cost - plus global warming concerns not going away will only make them more determined to reframe this fossil fuel energy crisis into a 'green' energy crisis. With an overflowing abundance of financial resources to put towards lobbying, PR, advertising, strategic donations, tactical lawfare, post politics payoffs etc.