Recently, Microsoft released Azure Reserved VM Instances, which allows you to run your workloads in Azure 24/7/365 and still save money!
According to the documentation this form of pre-commit will allow your organisation to run more Virtual Machines with a cost reduction up to 70% in comparison to list prices.
There are a few terms and fine-printed conditions:
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Reserved instances are purchased in one or three year terms with a single upfront payment.
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Azure Reserved Instances are available for all VM families other than A-series, A_v2 series, or G-series
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Since you pay upfront for a reserved amount of capacity, shutting down VM’s to save money isn’t relevant anymore.
