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News & Media

Latest ITER Newsline

  • Challenges | Managing risk in a first-of-a-kind project

    The classic approach to project management is to group risks into three separate categories. The first consists of known risks, the second of unknown risks, and [...]

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  • Steve Cowley | Projecting into the coming decades

    Steven Cowley, who now heads the Princeton Plasma Physics Laboratory (PPPL), gave a seminar last week at CEA-Cadarache and he had some good news regarding the s [...]

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  • Outreach | What vacuum does to marshmallows

    Every year in France, science is "à la fête" for two consecutive weekends in October. Free events and demonstrations—tailored particularly to school-a [...]

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  • Physics | 11th ITER International School announced

    The 11th ITER International School will be held from 20 to 24 July 2020, hosted by Aix-Marseille University in Aix-en-Provence, France. The subject of this year [...]

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  • Image of the week | An anniversary in blue, white and red

    ITER neighbour and close partner in fusion research, the CEA-Cadarache nuclear research centre, was established in October 1959. This week, it celebrated the 60 [...]

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Of Interest

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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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