Can we change to EC2 Instance Savings Plans after purchasing Compute Savings Plans

No, you cannot convert or change from Compute Savings Plans to EC2 Instance Savings Plans after purchase. The terms of a Savings Plan commitment cannot be changed once purchased.

However, you do have options to achieve your cost savings goals:

1. Purchase Additional EC2 Instance Savings Plans: You can purchase new EC2 Instance Savings Plans (which offer up to 72% savings compared to Compute Savings Plans' 66% savings) alongside your existing Compute Savings Plans. Both plans will work together to reduce your overall bill. The new EC2 Instance Savings Plan would apply first to eligible usage due to its higher discount rate, and your existing Compute Savings Plan would continue to cover other usage.

2. Wait for Expiration: After your current Compute Savings Plan expires in one year, your instances will be charged at On-Demand rates. At that point, you can purchase a new 3-year EC2 Instance Savings Plan to get the lower rates and longer-term commitment your client desires.

Keep in mind that EC2 Instance Savings Plans require commitment to a specific instance family in a chosen AWS Region, whereas Compute Savings Plans offer more flexibility across instance families, regions, and even services like Fargate and Lambda. Make sure the EC2 Instance Savings Plan aligns with your usage patterns before purchasing.
Sources
Savings Plans - Amazon EC2 Reserved Instances and Other AWS Reservation Models
Optimize costs with Savings Plans | AWS re:Post
Savings Plans types - Savings Plans

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