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News & Media

Latest ITER Newsline

  • Crane operator | A cabin in the sky

    There are times, at dusk, when the ITER construction platform resembles an airport, with roads and buildings illuminated by yellow and white lights. From their [...]

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  • Assembly | A colossal task made manageable

    For the execution of work during the next project phase—machine and plant assembly up to First Plasma—the ITER Organization has chosen a contractual approach th [...]

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  • Neutral Beam Test Facility | A new agreement for a new era

    The ITER Organization and the Italian consortium Consorzio RFX* have signed a new agreement governing the construction and operation of the ITER Neutral Beam Te [...]

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  • Load tests | Heavyweight champion

    The Assembly Hall, with its two giant tools towering 20 metres above ground, is one of the most spectacular locations on the ITER site. When a dummy load weighi [...]

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  • Fusion's new pioneers | How to go fast enough to make a difference

    Last month in New York, the Stellar Energy Foundation and the Fusion Industry Association co-hosted an invitation-only workshop: 'Roadmap to the Fusion Energy E [...]

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Of Interest

See archived entries

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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