Aye, however, that comes at the cost of requiring a pretty large amount of blutricity. I think the conversion ratio is somewhere around 1 kW -> 1 MJ, which if I remember correctly, would require a fair few solars to power. But, once you get it up and running, yes, free power and a lot of it. So, at maximum (32 MJ/t, methinks), the Blulectric Engine is the most powerful MJ-producing engine available. Hell, mingle that with some nice Power Converters work, and you could have a good amount of free energy for anything that's not RedPower.