Amazon AWS Lowers On-Demand and Reserved Prices
Effective immediately, we have lowered the On-Demand and Reserved prices for High Memory Double Extra Large (m2.2xlarge) and Quadruple Extra Large (m2.4xlarge) instances for Linux/UNIX and Windows by up to 19%. If you have existing Reserved Instances, your hourly usage rate starting September 1st will be lowered to the new usage rate and your estimated bill will reflect these changes later this month. We continuously strive to be more efficient, and are excited to pass cost savings on to you in the form of lower prices.
Beyond this price reduction, there are several other ways that you can save money when using Amazon EC2. Compared to On-Demand instance pricing, Reserved Instances enable you to reduce the cost of your instances by up to 56%. When using Reserved Instances, you pay a low, one-time fee and in turn receive a significant discount on the hourly usage charge for that instance during a 1 or 3 years period. After the one-time payment for an instance, that instance is reserved for you; you may choose to run that instance for the discounted usage rate for the duration of your term, or when you do not use the instance, you will not pay usage charges on it. Spot Instances also are available, which allow you to bid on unused Amazon EC2 capacity and run your instances for as long as your bid exceeds the current Spot Price. For customers who have flexibility in when they can run their instances, Spot Instances can significantly lower their Amazon EC2 costs.
You can find more detailed information about these options at http://aws.amazon.com/ec2.