Are there other ways in which the conventional contractual framework could be simplified in a way that would enable the private sector to price more cost effectively? 

SFT has reviewed the contractual framework within the bounds of a "payment for available facilities" contract and has made simplifications considered reasonable without significantly perturbing market expectations.

In some sectors, where ultimate return of the asset to the public sector may be considered less important (eg potentially waste) then a more radical simplification into something more akin to a long-term fee for service contract could be considered.