Preparing Steaks: Preheat broiler. Sprinkle steaks with salt and pepper; brush with margarine. Broil an additional 5 to 8 minutes or until fish is firm, turns translucent to opaque. Preparing Sauce: In a saucepan, melt margarine, add onions and peppers and cook just until tender, about 5 minutes. Add remaining ingredients, simmer, stirring occasionally for 10 minutes.
Place Halibut steaks on a serving platter and spoon Red Pepper Sauce over them.
