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Valuación económica de proyectos energéticos mediante opciones reales: el caso de energía nuclear en México

Author

Listed:
  • Francisco Álvarez Echeverría

    (Profesor de la División de Estudios de Posgrado de la Facultad de Ingeniería, UNAM.)

  • Pablo López Sarabia

    (Área de Estudios Económicos de Banamex)

  • Francisco Venegas-Martínez

    (Escuela Superior de Economía, Instituto Politécnico Nacional.)

Abstract

This paper, based on the methodology of real options, compares the financial viability of various technologies for generating electricity. It is shown that the generation of electricity from nuclear plants is economically and environmentally more attractive than other renewable and clean energy. It is also emphasized that a viable alternative for Mexico to reach energy independence in the medium and long term could be electricity generation with nuclear power plants in order to mitigate the extreme price volatility of fossil fuels from jumps in demand and the depletion of shallow-water fields.

Suggested Citation

  • Francisco Álvarez Echeverría & Pablo López Sarabia & Francisco Venegas-Martínez, 2012. "Valuación económica de proyectos energéticos mediante opciones reales: el caso de energía nuclear en México," Ensayos Revista de Economia, Universidad Autonoma de Nuevo Leon, Facultad de Economia, vol. 0(1), pages 75-98, May.
    • Handle: RePEc:ere:journl:v:xxxi:y:2012:i:1:p:75-98
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    File URL: http://www.economia.uanl.mx/revistaensayos/xxxi/1/Valuacion-economica-de-proyectos-energeticos.pdf
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    References listed on IDEAS

    as
    1. MacDougall, Shelley L. & Pike, Richard H., 2003. "Consider your options: changes to strategic value during implementation of advanced manufacturing technology," Omega, Elsevier, vol. 31(1), pages 1-15, February.
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    3. Black, Fischer & Scholes, Myron S, 1973. "The Pricing of Options and Corporate Liabilities," Journal of Political Economy, University of Chicago Press, vol. 81(3), pages 637-654, May-June.
    4. Pennings, Enrico & Lint, Onno, 1997. "The option value of advanced R & D," European Journal of Operational Research, Elsevier, vol. 103(1), pages 83-94, November.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Nuclear energy; real options; valuation of projects; fossil fuels;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G13 - Financial Economics - - General Financial Markets - - - Contingent Pricing; Futures Pricing
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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