The price of gas went up after Russia decided not to reopen its main gas line to Europe.
The Dutch month ahead wholesale gas price was up as much as 26% on Monday before falling back.
The line was due to reopen on Saturday after being shut for three days.
Russia's state-owned energy firm discovered a leak.
Russia is accused of blackmailing European countries because of the conflict in Ukraine.
In the last few weeks, wholesale prices have been volatile. Germany announced last week that its gas storage facilities were filling up more quickly than anticipated.
The cost of gas has gone up because of the Kremlin's decision to squeeze supplies to Europe.
In England, Wales and Scotland, the energy bill price cap has gone up.
Liz said she would announce a plan to deal with high energy bills if she became prime minister. Her opponent, Rishi Sunak, said he would target the poor.
The British Chambers of Commerce warned last week that firms would close their doors this winter if they weren't given help with soaring bills.
Bill Farren-Price said on the Today programme that there would be a "crunch moment" later in the year if demand for gas is high.
The incoming prime minister wants to look at energy bills.
Businesses and consumers in Europe will be helped by a number of European governments. The package includes one-off payments to the most vulnerable and tax breaks for energy intensive firms.
The package to support energy companies was announced by Sweden and Finland.
Russia denied that it used energy supplies as an economic weapon.
The European Union disagrees with the way it has blamed the sanctions for holding up the maintenance.
The countries that sign up to the policy will be able to purchase only Russian oil and petroleum products that are sold at or below the price cap.
Russia won't sell to countries that participate in the cap.
It can carry up to 170 million cubic metres of gas a day from Russia to Germany.
It is owned and operated by a Russian company.
This isn't the first time since Russia's invasion of Ukraine that the gas line has been shut down.
There was a 10 day cut off of supplies by Gazprom in July. It started again 10 days later but at a lower level.
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