Puerto Rico’s governor said he intends to sell off the US territory’s troubled power utility to the private sector, saying the process could take roughly 18 months to complete.

The Puerto Rico Electric Power Authority (Prepa) has yet to recover fully from the devastation wrought by Hurricane Maria, which in late September knocked out power to the entire island, leaving all 3.4 million residents in the dark and killing dozens of people.

"The Puerto Rico Electric Power Authority has become a heavy burden on our people, who are now hostage to its poor service and high cost," Governor Ricardo Rossello said in a statement. "What we know today as the Puerto Rico Electric Power Authority does not work and cannot continue to operate like this."

Less than 64 per cent of homes and businesses are receiving power, according to the latest data from the US Department of Energy. Prepa had promised that most of the island would have power by the end of December. The new plan calls for 30 per cent of power generation to be from renewable sources.

Rossello described how the process for breaking up the company would occur in three phases, calling it a move toward a "consumer-centered model."

Phase one consists of defining the legal framework via legislation. Phase two will be evaluating bids, and phase three will be "the terms of awarding and hiring the selected companies that meet the requirements for the transformation and modernisation of our energy system will be negotiated."