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News & Media

Latest ITER Newsline

  • Test facility | How do electronics react to magnetic fields?

    A tokamak is basically a magnetic cage designed to confine, shape and control the super-hot plasmas that make fusion reactions possible. Inside the ITER Tokamak [...]

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  • ITER Robots | No two alike

    More than 500 students took part in the latest ITER Robots challenge. Working from the same instructions and technical specifications, they had worked in teams [...]

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  • Data archiving | Operating in quasi real time

    To accommodate the first real-time system integrated with the ITER control system, new components of the data archiving system have been deployed. Data archivi [...]

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  • Repairs | Setting the stage for a critical task

    Like in a game of musical chairs—albeit in slow motion and at a massive scale—components in the Assembly Hall are being transferred from one location to another [...]

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  • Image of the week | There is life on Planet ITER

    Dated April 2023, this new image of the ITER "planet" places the construction site squarely in the middle. One kilometre long, 400 metres wide, the IT [...]

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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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