Approving a $9.5 million acquisition of Hercules\u2019 public utility by Pacific Gas & Electric, the California Public Utilities Commission Jan. 16 did not allow utility shareholders to reap incentives on the deal. \tPG&E proposed giving shareholders an up-front bonus of $2.5 million. \t\u201cPG&E does not need incentives to either acquire or take over other municipalities on either a friendly or hostile basis,\u201d noted the decision by Peterman. The Bay Area city\u2019s public utility cost $16 million to build and has 840 customers. Paying off the bonds is a financial drain, according to the city manager. Hercules was noted to be in \u201cdire\u201d financial condition by the commission.