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The EPS light keeps going on and off and the power steering comes and goes. the service centre cannot find anything wrong and have suggested I replace the power steering rack. What would I expect to pay for this please and could this be an electrical fault. it has done 93000 Kim's

To my mind the problem still needs further investigation. Very often, warning lights coming on intermittently can be difficult to diagnose, especially if the fault isn't present at the time. A steering rack will be quite expensive, so unless there is some reason pointing to it being in the rack, I'd be reluctant to replace it in the hope it might be the problem.
It's hard to hazard a guess as to what it could be, but it certainly could be electrical. The ECU, the column (which has a motor mounted at the bottom), wiring, connectors etc could all be potential causes.
Has the diagnsis been carried out by an authorised Mitsubishi dealer? If not, I'd suggest it might be beneficial to take it to a dealer as they have dedicated electronic diagnostic equipment that should hopefully be able to read any fault codes and trace the problem.