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News & Media

Latest ITER Newsline

  • Busbar installation | Navigating an obstacle course

    What is simple and commonplace in the ordinary world, like connecting an electrical device to a power source, often takes on extraordinary dimension at ITER. Wh [...]

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  • Vacuum vessel assembly | Back in the starting blocks

    Close to two years have passed since vacuum vessel assembly was halted when defects were identified in the ITER tokamak's vacuum vessel sectors and thermal shie [...]

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  • Ride 4 Fusion | Scientific outreach on two wheels

    A group of fusion researchers has left Padua, Italy, for an 800-kilometre bike trip to the ITER site. Their goal? To share information about fusion energy resea [...]

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  • 11th ITER Games | Good fun under the Provencal sun

    A yearly tradition in the ITER community for more than a decade now, the ITER Games offer a pleasant way to reconnect among colleagues and neighbours after the [...]

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  • Manufacturing | Recent milestones in Russia

    Russia continues to deliver in-kind components to the ITER project according to procurement arrangements signed with the ITER Organization. Some recent manufact [...]

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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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