Google Cloud recently announced upcoming changes (starting Oct 1, 2022) to the pricing structure of a number of services, including multi-regional storage buckets. Specifically, they will start charging egress fees on data stored in multi-regional buckets. Up until now, egress fees — charges when data stored in one region needs to be transferred to another region for computing — have not applied when moving data from a multi-regional to a specific regional bucket in the same continent.
See Moving away from multi-regional storage for more details about this change and what Terra is doing in response.
Sep 2022 Update
We’ve negotiated a pricing extension with Google to keep the current storage pricing for an additional 12 months.
What should you do
Billing account managers should reach out to their Google representatives to determine if they have received the pricing extension or are eligible to receive the pricing extension and discuss options.
December 2023 Update: Egress is now "data transfer out"
From Google: December 15, 2023, our product SKU description formally known as “Egress” will be renamed “Data Transfer Out”. “Ingress” will be renamed to “Data Transfer In”. This change will be reflected in all billing SKU descriptions, documentation and pricing pages.