Cramer on $XLU, $ED

Is there some sort of program going on in utilities? Did someone say that utilities are the new growth industry? Are there about to be a spate of takeovers?
I mean this move is extraordinary.
The group is one of the hottest in the whole market. What gives?
I think it is the yield differential. We've got a ton of tax proposals out there, but I am not hearing anything that says the tax on dividends is going to be boosted. At the same time, you can't get any yield from bonds to speak of and the upside is, well, nil.
Take the case of Con Ed, a stock that's up 26% in a year. It is not a growth stock. It is a safe stock.
But it doesn't matter. You take that dividend, reinvest it and you get a total home run!
Con Ed!
What's so significant about this? Utilities are the ultimate low-risk names. They are NOT the ultimate high-reward names.
Yet you are getting that combination.
So, sure, it might be a program. And, yes, it might be moving the utilities market. But the main thing is that this is what happens when you have a next-to-no-interest rate environment on the eve of Operation Twist.
Remarkable.