The Hercules City Council approved an agreement to sell the Hercules Municipal Utility to Pacific Gas & Electric Company at its meeting on Tuesday night.
The $9.5 million sale must now be approved by the California Public Utilities Commission, according to Hercules City Manager Steve Duran.
Earlier this year, Hercules officials announced they were selling the city-owned utility because the city was losing money operating the agency. They said the sale price would probably just pay off the utility's remaining bond debt.
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