As I understand it, yes.
Universal cables are nice and cheap, and a step up from pre-Buildcraft 3.7.1 conductive pipes, but Redstone Energy Conduits are the ultimate MJ Transfer method. 5% loss no matter the distance, and I believe a 1000MJ throughput per connection.
*Please note that what I know comes from watching Wylker and playing Tekkit. dwwojcik is not responsible for erroneous information.