Ensure that your AWS ElastiCache Reserved Cache Nodes are renewed before expiration in order to get a significant discount (up to 70% when used in steady state) on the hourly charges. The renewal process consists of purchasing another ElastiCache Reserved Cache Node so that Amazon can keep charging you based on the chosen reservation term.
This rule can help you work with the AWS Well-Architected Framework
This rule resolution is part of the Cloud Conformity Cost Management tool for AWS
With Reserved Cache Nodes (RCNs) you can optimize your Amazon ElastiCache costs based on your expected usage. Since RCNs are not renewed automatically, purchasing another reserved ElastiCache nodes before expiration will guarantee their billing at a discounted hourly rate.
Note: You can change the default threshold (seven) for the number of days before expiration on the Cloud Conformity console and set your own value (days) based on your requirements.
To determine the expiration date for your Amazon ElastiCache Reserved Cache Nodes, perform the following:
To renew the ElastiCache Reserved Cache Nodes before their reservation expire, you need to repurchase them using the same configuration attributes (region, node type, term, etc). To renew your existing ElastiCache RCNs in order to avoid On-Demand rates charges when the current reservation expires, perform the following: