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News & Media

Latest ITER Newsline

  • Making remote handling less remote

    Over a wet and windy three-day period on the ITER site in November, around 90 representatives of the ITER Organization, the Domestic Agencies of Europe and Japa [...]

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  • The framework for sharing ITER intellectual property

    In signing the ITER Agreement in 2006, the seven ITER Members were agreeing not only to share in the costs of constructing and operating the ITER facility, but [...]

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  • Wendelstein achieves ultra-precise magnetic topology

    A recent article in the online journal Nature Communications confirms that the complex topology of the magnetic field of Wendelstein 7-X—the world's largest ste [...]

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  • The Matrix, rigid and fluid

    A fast-growing array of structures and buildings has been emerging across the ITER worksite platform under the control and supervision of the European Domestic [...]

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  • By road, river and sea

    They travelled by road from the Air Liquide factory near Grenoble, sailed down the Rhône River from Lyon and entered the Mediterranean to the east of Fos-sur-Me [...]

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Of Interest

See archived articles

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.'' - 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.'' - 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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