One of the Conservative party’s biggest donors has accused ministers of worsening the fuel poverty crisis and setting back their green agenda after the Government blocked his planned £1.2bn electricity link between England and France.

Alexander Temerko said the refusal created a “very bad precedent” and strongly criticised Penny Mordaunt, the former defence secretary and a Portsmouth MP, for claiming the project posed a risk to energy security – calling her an “absolutely uncontrollable woman”.

The 55-year-old businessman will seek a judicial review against the Government’s decision. He warned that energy investment is a “long-term investment business” but “regulation in Europe is much more stable and more effective than in the UK”, with renewable energy projects facing lengthy hurdles this side of the Channel.

His comments come at a sensitive time for the Government as it tries to attract investment for its renewable energy push and confronts an impending surge in energy bills. The average household bill is expected to hit £2,000 a year when the price cap rises in April.

Mr Temerko said: “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 added that the UK presents itself as “[the] greenest, very bold, very brave” but is failing to deliver on this rhetoric.

“We need to create a massive renewable hub in the UK and interconnectors from Europe,” he said.

Mr Temerko, who is planning to challenge the interconnector decision, still supports the Prime Minister, Boris Johnson, who he said had “done a very good job with the vaccination programme” but said he may need to reshuffle his team to prevent the Government being distracted by rivals positioning for his job in the wake of “Partygate”.

He added: “They definitely need a much deeper connection with business, because only business can deliver money and help to stop inflation and help create new jobs and reduce the price of electricity.”

His planned 2GW electricity link between Portsmouth and Le Havre would be one of a growing number of cables between the UK and the continent helping to balance out intermittent electricity supply from wind and solar, able to meet up to 5pc of UK demand.