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News & Media

Latest ITER Newsline

  • Inside the pit | From dizzying volume to cramped environment

    There was a time when the assembly pit felt like a huge arena, with toy-like tools scattered on the floor and workers reduced to Playmobil-size figures. Progres [...]

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  • Fusion world | UKAEA's CHIMERA set to transform fusion component testing

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  • Award | A 30-year friendship with China

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  • Tokamak assembly | Building the feeders, segment by segment

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  • Fusion world | Highest French distinction for former ITER Director-General

    Established in 1802 by Napoléon Bonaparte, then the First Consul of the young French Republic, the French Legion of Honour (Légion d'honneur) is the highest of [...]

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Of Interest

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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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