Enable Recite

Subscribe options

Select your newsletters:

Please enter your email address:

@

Your email address will only be used for the purpose of sending you the ITER Organization publication(s) that you have requested. ITER Organization will not transfer your email address or other personal data to any other party or use it for commercial purposes.

If you change your mind, you can easily unsubscribe by clicking the unsubscribe option at the bottom of an email you've received from ITER Organization.

For more information, see our Privacy policy.

News & Media

Latest ITER Newsline

  • Remembering Bernard Bigot, ITER Director-General 2015-2022

    On the ITER site, the machinery of construction was humming just like on any weekday. Workers were concentrating on their tasks, laying rebar for new buildings [...]

    Read more

  • Tokamak assembly | Preparing for the Big Lift

    The distance was short but the challenge daunting: on Thursday last week, the first section of the plasma chamber was lifted 50 centimetres above its suppor [...]

    Read more

  • Image of the week | 13th toroidal field coil arrives from Europe

    The toroidal field coil procurement effort has been one of the longest of the ITER program, initiated by Procurement Arrangements signed in 2007 and 2008. Manuf [...]

    Read more

  • Diagnostics | Final Procurement Arrangement signed

    ITER Diagnostics reached an important milestone in December 2021 when it concluded the last Procurement Arrangement of the diagnostics program. After signing a [...]

    Read more

  • On site | A quick visit to the Control Building

    Work is progressing on the ITER Control Building, ergonomically designed for the 60 to 80 operators, engineers and researchers who will call it home.  [...]

    Read more

Of Interest

See archived entries

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."


return to the latest published articles