The companies that store between 50 TB and 100 TB will pay 14 cents per gigabyte (US) and 17 cents per gigabyte (EU).

The second price tier is for storages between 100 TB and 500 TB and, Amazon stated, is one cent cheaper ($0.13 US – $0.16 EU), while those needing more than 500 TB will have to subtract once again 1 cent.

"The growth of Amazon Web Services has allowed us to become even more efficient and further lower our operating expenses. AWS remains committed to passing savings along to our customers. Just six months ago, we announced a reduction in data transfer costs, and today we’re pleased to pass new storage savings along to our customers," said Alyssa Henry, general manager of the Amazon Simple Storage Service.

The company stated that the new price policy goes into effect starting November 1.

At present time, all companies pay 15 cents per gigabyte in the United States and 18 cents per gigabyte in the European Union, regardless of how much storage space they need. Customers using less than 50TB will continue to be billed at the same prices as before.