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News & Media

Latest ITER Newsline

  • Computer-Aided Design | A new platform with Australia

    In September 2016, the signature of a Cooperation Agreement between the Australian Nuclear Science and Technology Organisation (ANSTO) and the ITER Organization [...]

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  • Ten years later | A prodigious adventure

    ITER began its existence as an aspiration in the early 1980s, as actors in the fusion community called for the joint machine that would demonstrate the feasibil [...]

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  • Image of the week | An impromptu visit

    Afteraddressing the UN Climate Change Conference on 15 November, French President Emmanuel Macron toured thecolourful COP23 exhibition zone. It was towards the [...]

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  • Cryoplant | How to install a compressor

    In order to properly install a helium compressor skid on its concrete pad, you need to start with a large push broom to sweep away the dust that inevitably accu [...]

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  • Magnetic system | Nine rings to fight the force

    Work on the pre-compression ringsof the ITER magnet system progresses in Europe, where work on a full-scale prototype is underway. These technically challenging [...]

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Of Interest

See archived articles

Money talks

Krista Dulon

''The ITER Organization is spending taxpayers' money and has to maintain a high level of efficiency, economy and integrity for all its expenditures,'' says Hans Spoor, head of ITER Finance & Budget. (Click to view larger version...)
''The ITER Organization is spending taxpayers' money and has to maintain a high level of efficiency, economy and integrity for all its expenditures,'' says Hans Spoor, head of ITER Finance & Budget.
Why was it necessary to invent the ITER Unit of Account, or IUA? What is the difference between the planned value of ITER and its actual cost? Does ITER earn interest on the funds it holds, and —if so—where does this money go?

Hans Spoor, Head of Finance & Budget, addressed these questions and more at this week's Inside ITER seminar. Entitled "Everything you wanted to know but were afraid to ask about ITER finances," the audience was introduced to the specificities of ITER financing by its Members, budget planning and procedures, and principles of ITER accounting.

ITER construction will be managed within an agreed capped ceiling of 4700 kIUA. "Converted to euros at 2010 conversion rates (1 IUA = 1,552.24 euros), that's EUR 7.3 billion," demonstrated Hans. "ITER construction costs are equivalent to less than 20 euro cents/year for the inhabitants of the ITER Member countries."


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