A company seeks cost savings in exchange for a commitment to use a specific amount...

Savings Plans are an AWS pricing model or offering that can meet the requirements of seeking cost savings in exchange for a commitment to use a specific amount of an AWS service or category of AWS services for 1 year or 3 years. Savings Plans are flexible plans that offer significant discounts on AWS compute usage, such as EC2, Lambda, and Fargate. The company can choose from two types of Savings Plans: Compute Savings Plans and EC2 Instance Savings Plans. Compute Savings Plans provide the most flexibility and apply to any eligible compute usage, regardless of instance family, size, region, operating system, or tenancy. EC2 Instance Savings Plans provide more savings and apply to a specific instance family within a region. The company can select the amount of compute usage per hour (e.g., $10/hour) that they want to commit to for the duration of the plan (1 year or 3 years). The company will pay the discounted Savings Plan rate for the amount of usage that matches their commitment, and the regular on-demand rate for any usage beyond that