Savings Plans

What are savings plans

AWS Savings Plans is a pricing model that allows users to commit to a certain amount of usage of EC2 instances or Fargate containers over a one or three year term, in exchange for a discount on the on-demand rate of those resources. It is a flexible and easy-to-use way to save up to 72% on AWS compute usage.

What if I had savings plans from the past

If you have Savings Plans from the past, those Savings Plans will continue to apply to your eligible usage, and you will continue to receive the associated discounts until the end of their term.

Any unused Savings Plan spend from past Savings Plans will also continue to be available to offset eligible usage charges within the same instance family, size, and region covered by the Savings Plan. If you have previously purchased Savings Plans, we will make our best effort to allocate them to our customers, but we cannot guarantee that we will be able to do so.

What happens to my unused savings plan spend

With AWS, unused savings plan spend is carried forward to future usage charges of the same instance family, size, and region covered by the savings plan. If the unused savings plan spend is not used before it expires, it will be forfeited and cannot be used to offset any future usage charges.

With Pump, we allocate any unused savings plan spend to our other customers. As a group, we offset unusual spiky workloads. In the worst case scenario, if your savings plans are not consumed, Pump credits you with AWS credits. Please note that this is only applicable if Pump has purchased your savings plan. If you have previously purchased savings plans, Pump will make its best effort to allocate them, but it is not guaranteed.

Where do I see these savings on AWS console

To see the savings you have made with AWS Savings Plans > Cost Explorer console > Savings Plans tab, which will show you a breakdown of your savings by plan, region, and usage type.

You can also view your savings in the AWS Billing and Cost Management dashboard, where you can download a Savings Plans utilization report to get a detailed breakdown of your usage and savings.