Electric bills are set to jump more than 16% for 1.25 million Washington state residents — even as Microsoft gets a rate cut under a special deal, according to a report. Puget Sound Energy, a utility company that is owned by a consortium of Canadian and Dutch pension funds, is seeking state government approval for rate hikes of 16.75% next year, 3.76% in 2028, and 8.81% in 2029. The request, which is subject to approval by Washington’s state regulators at Utilities and Transportation Commission,