Which AWS option lets a company lower EC2 costs by committing to a certain level of usage?

Compute Savings Plans offer significant cost savings (up to 66%) on EC2 usage by committing to a consistent amount of compute usage (measured in $/hour) for a one-year or three-year term. This commitment applies across any EC2 instance family, size, region, operating system, or tenancy, providing flexibility while reducing costs. Auto Scaling groups automatically adjust capacity to maintain performance and optimize costs, but they don't offer a discount based on a usage commitment. On-Demand Instances are pay-as-you-go with no upfront commitment, offering the highest flexibility but also the highest cost per hour. EC2 instance store provides temporary block-level storage for an instance, not a cost-saving model for compute itself.