What are EC2 Savings Plans and how do they work?
An example of an AI chatbot conversation about EC2 Savings Plans for AWS cost savings.
What are EC2 Savings Plans and how do they work?
EC2 Savings Plans are flexible pricing models that offer significant savings on your AWS EC2 usage. They allow you to commit to a certain amount of usage over a one or three-year term in exchange for lower rates.
How much can I save with EC2 Savings Plans compared to On-Demand pricing?
Savings can be substantial, often ranging from 10% to 72% compared to On-Demand pricing, depending on the plan you choose and your usage patterns.
Are there different types of Savings Plans?
Yes, there are two main types: Compute Savings Plans, which provide the most flexibility across any EC2 instance, and EC2 Instance Savings Plans, which apply to specific instance families.
Can I change my commitment if my usage needs change?
While you cannot change the commitment once it's made, you can purchase additional Savings Plans to cover increased usage.
How do I purchase EC2 Savings Plans?
You can purchase EC2 Savings Plans through the AWS Management Console, AWS CLI, or AWS API. Just navigate to the Billing and Cost Management section.
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