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News & Media

Latest ITER Newsline

  • Fusion world | A helium campaign kicks off at JET

    After achieving record-breaking results on the Joint European Torus during 2021 experiments with the high-performance fuel mix of deuterium and tritium, EUROfus [...]

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  • Coil winding table | Seven years of faithful service

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  • Image of the week | Down under

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  • On site | An annual reminder about safety

    ITER's Safety and Quality Department knows: you can never repeat an important message often enough. The second annual ITER Safety Day took place on 15 Septe [...]

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  • Top management | ITER Council appoints new Director-General

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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."


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