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we have a large ec2 instance running in asia pacific region.we want to reserve that particular instance.In aws management console we see an option to purchase a reserved instance but there seems to be no option to change this instance into a reserved one.Are we missing out on something
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Term: AWS offers Standard RIs for 1-year or 3-year terms. Reserved Instance Marketplace sellers also offer RIs often with shorter terms. AWS offers Convertible RIs for 1-year or 3-year terms.
An Amazon Reserved Instance (RI) is a billing discount that allows you to save on your Amazon EC2 usage costs. When you purchase a Reserved Instance, you can set attributes such as instance type, platform, tenancy, Region, or Availability Zone (optional).
When you stop an EC2 instance, the instance will be shutdown and the virtual machine that was provisioned for you will be permanently taken away and you will no longer be charged for instance usage.
Reserved instances are a billing feature, not a technical feature.
You can purchase a reserved instance and the discounted hourly rate will apply to already-running instances, without needing to do anything to them. Just make sure the reserved instances you purchase are: - in the same availability zone as your already-running instances - of the same instance type (m1.small, c1.medium, etc) as your already-running instances.
As soon as the reservation cost clears your credit card you will see the discounted hourly rate take effect for your already-running instances.
Amazon's docs could be a lot clearer on this. http://aws.amazon.com/ec2/reserved-instances/#4
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