By Jessica Frank-Keyes
Emotions in Portsmouth are certainly running high.
In the latest development of an ongoing row, local MP Penny Mordaunt lashed out at Alexander Temerko, director of Aquind – a company who’s proposal to build a power cable between France and England was rejected by the government in 2022.
After stressing her security credentials, Mordaunt said: “I understand very well what is in our national interest — and it is not Aquind or Alexander Temerko.”
Her rebuttal came after an Aquind boss called her opposition to his electricity plan due to “baseless emotions” and said she was letting politics “get in the way”. A judicial review is now ongoing despite the initial government rejection of the project.
Mordaunt is an objector on environmental grounds, along with other pro-green groups.
‘Contrary to the national interest’?
Aquind wants to run an electricity cable between England and France, which would involve several years of digging up Portsmouth while it is laid.
Last month the government began reconsidering its decision to refuse permission for a £1.3bn electricity cable between England and France after a High Court smackdown.
Campaigners have vowed to continue their fight against the project – which they brand “corruption and corporate greed” and insist amounts to a “trashing” of the city and area.
But irate protestors aside, the recent target of Aquind part-owner and Conservative donor Alexander Temerko, was in fact cabinet minister and Portsmouth MP Penny Mordaunt.
Speaking to City A.M. Temerko said: “Unfortunately I believe her criticisms about electricity interconnectors in general and our project in particular are contrary to the national interest.
“It hinders the development of decarbonised energy generation and transmission. We do not have enough electricity in the south of England and if we want to keep people’s toasters on, businesses running, we need lots more.
“I believe she may have allowed local politics to get in the way, but I’m sure we will have opportunities to find common ground in the future.”
Mordaunt has been approached for comment.
What’s the Aquind row about?
His remarks came after a Politico interview, in which the Ukrainian-born businessman, a British citizen since 2011, hit out at the former Conservative leadership contender.
“If Penny Mordaunt wants to be responsible for [the] high price of electricity in this country – people in Portsmouth say ‘thank you very much’,” Tererko said.
“It’s only emotions … it’s baseless emotions and political inspiration.”
Mordaunt responded with a put down of her own.
She told Politico: “I have been the secretary of state for defence, armed forces minister, the UK’s defensive cyber security lead, head of our civil contingencies, a member of the National Security Council, and a member of the Commons defence select committee.
“I understand very well what is in our national interest — and it is not Aquind or Alexander Temerko.”
Temerko previously suggested he could sue Mordaunt, before dropping the idea. He also previously described her as an “uncontrollable woman”.
Russian-British businessman Viktor Fedotov, who was involved in the Pandora Papers leak in 2021, is also a co-owner of Aquind and has donated to the Conservative party.
There are no legal restrictions on donating to political parties for British citizens. The Electoral Commission says there is “no limit on how much someone can give if they are a permissible source”.
What’s the story so far?
Aquind wants to build an undersea interconnector linking Hampshire with Normandy, said to cost in the region of £1.3bn.
Plans for the HVDC submarine power cable were first revealed in 2016 – and were initially opposed by local protestors and the city council.
Controversy over the environmental impact of the scheme and links between the company’s owners and the government have since emerged.
Opponents include Mordaunt, campaign group Stop Aquind and Labour MP for Portsmouth South Stephen Morgan, with ongoing petitions and protests.
The project was granted nationally significant infrastructure project (NSIP) status – meaning national government, as opposed to the local authority – will rule on whether it can go ahead.
Then business secretary Kwasi Kwarteng initially rejected the scheme’s application for a development consent order (DCO) in January 2022.
Subsequently, that decision was overturned by the High Court after Aquind applied for a judicial review.
Energy security and net zero secretary Grant Shapps is now expected to make a fresh decision on the scheme, which will take the court ruling into consideration.
What could happen next for Aquind?
Aquind insists it has investors lined up to fund the scheme, which it says could supply up to five per cent of the UK’s energy needs.
Temerko told the Financial Times several investors, including banks, pension and hedge funds, had signed ‘notices of intent’ and were likely to take future ownership of the scheme. He also said tenders were arranged to carry out the construction work.
Project advisors include London Bridge Capital, Baringa and FTI Consulting, the FT said.
Shapps wrote to Aquind and other interested parties in the scheme at the beginning of March to request further information.
The deadline for responses was 28 April, and he is expected to consider the decision in the coming weeks.
What do the parties say?
An Aquind spokesman said: “Climate change and global warming are the biggest challenges we all face and the £1.3bn interconnecter will aid our national obligations under the Paris Agreement to decarbonise energy production.
“The Aquind interconnecter contributes to energy security. It improves resilience against supply and price shocks and CO2 emissions. It is a key element to achieve net zero.”
Viola Langley, a spokesperson for Stop Aquind, said: “We trust Grant Shapps will come to the same conclusion as his predecessor, to refuse the DCO for the Aquind interconnector.”
She added: “[We are] horrified by the latest bullying and harassment of Penny Mordaunt. Does Alexander Termerko think he can influence the outcome by intimidation and donations?”
A government spokesperson said: “Given the secretary of state for energy security and net zero’s role in redetermining the application for Aquind Limited, it would not be appropriate for us to comment on specific matters relating to the proposal.”
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