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News & Media

Latest ITER Newsline

  • Vacuum components | Shake, rattle, and... qualify!

    A public-private testing partnership certified that ITER's vacuum components can withstand major seismic events. Making sure the ITER tokamak will be safe in th [...]

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  • Feeders | Delivering the essentials

    Like a circle of giant syringes all pointing inward, the feeders transport and deliver the essentials to the 10,000-tonne ITER magnet system—that is, electrical [...]

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  • Image of the week | It's FAB season

    It's FAB season at ITER. Like every year since 2008, the Financial Audit Board (FAB) will proceed with a meticulous audit of the project's finances, siftin [...]

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  • Disruption mitigation | Final design review is a major step forward

    The generations of physicists, engineers, technicians and other specialists who have worked in nuclear fusion share a common goal, dedication and responsibility [...]

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  • Image of the week | Like grasping a bowl of cereal

    Contrary to the vast majority of ITER machine components, the modules that form the central solenoid cannot be lifted by way of hooks and attachments. The 110-t [...]

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Of Interest

See archived entries

ITER NEWSLINE -

Money talks

''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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