I've was looking to book a ticket this fall to London on British Airways using my AS miles and was surprised to see that the award booking was a considerably higher cost. Have others seen this issue?

For context, when I tried to book an award flight via Alaska the total price amounted to 65K miles + $812. The same exact itinerary booked on BA as a revenue fare is $822.

Is this common practice? Seems pretty questionable to charge someone the cost of the normal fare on top of additional miles.