EC2 Reserved Instance Update – Convertible RIs and Regional Benefit
We launched EC2 Reserved Instances almost eight years ago. The model that we originated in 2009 provides you with two separate benefits: capacity reservations and a significant discount on the use of specific instances in an Availability Zone. Over time, based on customer feedback, we have refined the model and made additional options available including Scheduled Reserved Instances, the ability to Modify Reserved Instances Reservations, and the ability to buy and sell Reserved Instances (RIs) on the Reserved Instance Marketplace.
Today we are enhancing the Reserved Instance model once again. Here’s what we are launching:
Regional Benefit -Many customers have told us that the discount is more important than the capacity reservation, and that they would be willing to trade it for increased flexibility. Starting today, you can choose to waive the capacity reservation associated with Standard RI, run your instance in any AZ in the Region, and have your RI discount automatically applied.
Convertible Reserved Instances -Convertible RIs give you even more flexibility and offer a significant discount (typically 45% compared to On-Demand). They allow you to change the instance family and other parameters associated with a Reserved Instance at any time. For example, you can convert C3 RIs to C4 RIs to take advantage of a newer instance type, or convert C4 RIs to M4 RIs if your application turns out to need more memory. You can also use Convertible RIs to take advantage of EC2 price reductions over time.
Let’s take a closer look…
Read the entire article here, EC2 Reserved Instance Update – Convertible RIs and Regional Benefit
via the fine folks at Amazon Web Services.