We are excited today to introduce Reserved Instances, an additional pricing option for Amazon EC2 that gives you an option to make a low, one-time payment for an instance to reserve capacity and further reduce hourly usage charges. Reserved Instances are complementary to existing Amazon EC2 On-Demand Instances and give businesses even more flexibility to reduce computing costs. As with On-Demand Instances, you will still pay only for the compute capacity that you actually consume, and if you do not use an instance, you will not pay usage charges for it. To learn more about Reserved Instances, go to http://aws.amazon.com/ec2
Read the press release related to this announcement.