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Weak Swedish krona makes ESS more expensive for euro countries – now Denmark wants to compensate – News Øresund Sweden

Weak Swedish krona makes ESS more expensive for euro countries – now Denmark wants to compensate – News Øresund Sweden

In a letter to the Swedish Ministry of Education, Denmark demands compensation for increased construction costs from the European Spallation Source (ESS). The agreement, from 2014, establishes how much the 13 participating countries must pay. Sweden, as one of the host countries – ESS is based in Lund – will cover 35 percent of the costs. The other host country, Denmark – where the ESS data center is located in Copenhagen – accounts for 12.5 percent.

Sweden and Switzerland pay in Swedish kroner, while other countries’ contributions are determined in euros, at a fixed exchange rate of nine Swedish kroner to one euro. Today, the rate is almost twelve kroner. This means that costs for Euro countries have increased. Next week, responsible officials from the respective countries will meet in Stockholm. Chitsvenskan informs about this. (News Øresund)

facts

The European Spallation Source (ESS) research facility in London is set to become the world’s most powerful neutron source.

Construction began in 2014 and the facility is slated for completion in 2025. However, construction has been delayed and is now expected to be fully operational in 2027.

The final cost of building the ESS is now estimated at over 33 billion Swedish kroner. According to the agreement, Sweden must cover 35 percent of the costs.

The bill is shared between the thirteen participating countries of the ESS consortium, which are Estonia, France, Italy, Norway, Poland, Spain, Great Britain, Switzerland, the Czech Republic, Germany and Hungary in addition to Sweden and Denmark.

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