New AWS Scheduled Reserved Instances Trim Your Cloud Costs By Up To 10%

While most of the cloud competitors were busy reshuffling their pricing strategies to push their cloud services as the cheapest in comparison to AWS, Amazon had better plans!

Amazon recently launched a new option for running mission-critical workloads at cheaper rates called AWS Scheduled Reserved Instances. Amazon claims that this new pricing model is tailored to trim your reservation rates by up to 10 percent.

While introducing this new pricing model, Jeff Barr, Chief Evangelist for the Amazon Web Services, explained via a blog post how the banking/mutual fund sector, a phone company, or even an animation studio can benefit from the new SRI pricing model.

With the new AWS Scheduled Reserved Instances (SRI), customers can reserve capacity on a recurring basis with a daily, weekly, or monthly schedule over the course of a one-year term.

For example, you’re at San Francisco and want to purchase scheduled reserved instances for a few specific days of the week (say Monday mornings and Friday afternoons). You first need to convert the schedule timings to UTC, before you set the recurrence.

Scheduled instances reservation

Then you need to select the reserved instances that best suit your needs. It is always advisable to leave the Availability Zone and/or the instance type unspecified to get more options.

Based upon your selection, you will see a menu of ‘available schedules’ to purchase.

Available schedules

You can then purchase the scheduled instances from the options available. Review the same once before you move to the cart and then ‘Purchase’ the scheduled instances.

Review purchage

After completing the purchase, all you need to do is tell Amazon when and for how long you will need a machine and it’ll be launched at those timings!

scheduled instances

Jeff adds that you can also launch your Scheduled Reserved Instances via the AWS Command Line Interface (CLI), the AWS Tools for Windows PowerShell, and the new ‘RunScheduledInstances’ function.

That’s a bit about the new SRI pricing offering from AWS!

You get the freedom to reserve instances for predefined blocks of time on a recurring basis for a one-year term, with significant 5 to 10% lower price rates than the equivalent On-Demand rates. This is a great addition to your Reserved Instance Planner.

Amazon forecasts to cross-integrate SRI with Lambda, Auto Scaling and CloudFormation services soon but presently it is uncertain how scalable and fine-tuned the integration will be.

Currently, the new SRI feature is available from three Amazon regions — U.S. East (Northern Virginia), U.S. West (Oregon), and Europe (Ireland) — and only through AWS’ C3, C4, M4, and R3 instances.

Since AWS cloud cost management will be in the spotlight in 2016, you should definitely look out for smarter ways to optimize your cloud costs.  Try out Scheduled Reserved Instances from Amazon.