Miles plus money value reduction?

I have a ton of miles at the minute and there are no G's available for any dates that work, so I was just browsing cash fares and thinking of burning a load of miles via miles plus money and the conversion rate seems to be 3,000 miles for a £16.50 discount. Didn't it used to be £18?

It was indeed. Got nudged down a few months ago. Uptake must have been good!

[mitchja]

This is how I spend all my miles now.

I’d much rather be earning something on every flight and MpM fares allow you to do this. Also means you can get Upper Class I fares (so double TP’s) for Z fare prices (or less)