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News & Media

Latest ITER Newsline

  • Cross-sector advocacy | The fusion knights

    Developing fusion as a usable energy source requires an all-hands-on-deck approach. At last week's ITER workshop, fusion advocacy organizations showed the role [...]

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  • Knowledge dissemination | ITER enters a shared-information era

    Workshop lays groundwork to provide vast amounts of ITER research and expertise to fusion companies. As ITER embarks on an ambitious initiative to accelerate th [...]

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  • Private Sector Workshop | "How can ITER help?"

    There are many ways to approach the harnessing of fusion energy: one is to optimize or simplify existing concepts; another is to exhume long-abandoned solut [...]

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  • Fusion codes and standards | "Consistency will accelerate global innovation"

    The development of commonly agreed codes and standards for fusion goes right to the heart of ITER's vision of collaboration, recognizing the exceptional dynamis [...]

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  • Industrial ecosystem | Suppliers see growing opportunities

    A diverse group of suppliers described their roles in a growing ecosystem around nuclear fusion and shared their vision of the future. The quest for fusion brin [...]

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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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