TWICE THE EXCITEMENT IN SUPERMAN RED/SUPERMAN BLUE
The most controversial event in recent comics history took an unexpected turn in December 1997, as the new-costumed Superman's strange, energy-based powers lead to a fundamental change in the hero's very identity, and introduced two new characters to the Superman mythos. DC Comics launched: SUPERMAN RED/SUPERMAN BLUE.
The 64-page one-shot, while taking its title from one of the most beloved "imaginary" Superman stories of the 1960s, was every bit a part of modern continuity. Menaced by the unlikely, but nonetheless deadly, alliance between Toyman and the Cyborg, Superman's energy form was ripped apart, but the hero survived -- as two distinct beings: the devil-may-care Superman Red, and the more somber Superman Blue. Identical except for their color, each had the same powers as the original Man of Energy and each could turn into Clark Kent.
POWERS:
Containment suit stores energy, which is transformed into other powers.
Teleportation, Intangibility, Super-Vision and the Creation of Electromagnetic Fields.
from... http://www.supermanhomepage.com/comics/comics.php?topic=comics-new_supes