This is the first release of Savings Plans, a new flexible pricing model that offers low prices on Amazon EC2 and AWS Fargate usage.
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Savings Plans are a pricing model that offer significant savings on Amazon Web Services usage (for example, on Amazon EC2 instances). You commit to a consistent amount of usage per hour, in the specified currency, for a term of one or three years, and receive a lower price for that usage. For more information, see the Amazon Web Services Savings Plans User Guide.
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