Heat oven to 350?F. Grease bottom only of 9x5 inch loaf pan. In large bowl, combine sugar,orange peel, water, orange juice, oil and egg; blend well. Add flour, baking powder,salt and baking soda; stir just until dry ingredients as moistened. Stir in cranberries and nuts. Pour into greased pan and bake for 50 to 60 minutes or until a toothpick inserted into center comes out clean. Cool 10 minutes and then remove from pan. Cool completely. Wrap tightly and store in refrigerator.