Ensure that your AWS Redshift Reserved Nodes are renewed before expiration in order to get a significant discount (based on the commitment term) on the hourly charges. The renewal process consists of purchasing another Redshift Reserved 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 Nodes (RNs) you can optimize your Amazon Redshift costs based on your expected usage. Since RNs are not renewed automatically, purchasing another reserved Redshift 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 Redshift Reserved Nodes, perform the following:
To renew the Redshift Reserved Nodes before their reservation expire, you need to repurchase them using the same configuration attributes (AWS region, node type, term, etc). To renew your existing Redshift RNs in order to avoid On-Demand rates charges when the current reservation expires, perform the following: