A major Conservative party donor accused ministers of worsening the fuel poverty crisis after blocking his cross-Channel power cable project.
Businessman Alexander Temerko, 55, said he will seek a judicial review after the Government refused the £1.2billion link between England and France in a move which he said created a 'very bad precedent'.
Mr Temerko, a British citizen who was born in the Soviet Union, has donated more than £1million to the Tories and is listed as a director of Aquind Limited.
Business Secretary Kwasi Kwarteng last week decided to dismiss Aquind's plans to provide a new electricity link between Portsmouth and Normandy in France.
The proposal was controversial and Penny Mordaunt, the former defence secretary and current MP for Portsmouth North, claimed the project posed an energy security risk. She celebrated its refusal, tweeting 'we did it, before Mr Temerko called her 'an absolutely uncontrollable woman'.
Mr Temerko said energy investment is a 'long-term investment business' but added: 'regulation in Europe is much more stable and more effective than in the UK' as renewable energy products faced obstructions in the UK.
His comments come as households prepare to face at least a £3,000 spending squeeze in 2022 as soaring energy bills send inflation through the roof
Experts predict basic household spending will be £2,440 higher than at the start of the pandemic. But on top of this, families are facing the added burden of a £600 national insurance hike and other tax rises.
Alexander Temerko (pictured with the PM), a British citizen who was born in the Soviet Union, has donated more than £1million to the Tories and accused ministers of worsening the fuel poverty crisis after blocking his cross-Channel power cable project
Business Secretary Kwasi Kwarteng decided to dismiss Aquind's plans (pictured) to provide a new electricity link between Portsmouth and Normandy in France
Mr Temerko told the Telegraph: 'Five million people in this country will not be able to afford electricity – for the first time – and they refuse this application and postpone two others.'
He accused the UK of failing to deliver on its message of being 'the greenest' and 'very bold, and very brave'.
A letter published on the Planning Inspectorate website showed Mr Kwarteng decided to 'refuse development consent' for Aquind's project having considered his obligations under the energy National Policy Statement.
Trade minister Penny Mordaunt, the MP for Portsmouth North, celebrated the decision, adding: 'Thank you to everyone
