No Reservations: A Definite Guide to EC2 Reserved Instances

EC2 Reserved Instances (RIs) provide steep discounts (up to 75%) to the hourly cost of running an EC2 instance in exchange for an upfront commitment to using a particular instance configuration for either a 1 year or 3 year term. In addition to the billing discount, certain RIs also offer capacity reservations which means EC2 will set aside capacity for your indicated instance…