Can you use Amazon EC2 Reserved Instances with Amazon VPC?

Yes. You can reserve an instance in Amazon VPC when you purchase Reserved Instances. When computing your bill, AWS does not distinguish whether your instance runs in Amazon VPC or standard Amazon EC2. AWS automatically optimizes which instances are charged at the lower Reserved Instance rate to ensure you always pay the lowest amount. However, your instance reservation will be specific to Amazon VPC. Please see the Reserved Instances page for further details.