An ELB with only one registered EC2 instance does not achieve its core purposeādistributing traffic across multiple backends. In this configuration, the ELB adds complexity and cost without improving availability, scalability, or fault tolerance. This setup is often the result of premature scaling design or misunderstood architecture patterns. If there's no plan to horizontally scale the application, the ELB can often be removed entirely without user impact.
All ELB types are billed per hour of provisioned uptime and, in most cases, per GB of data processed. These charges apply regardless of the number of targets or the actual volume of traffic being handled. Running an ELB with only a single EC2 instance incurs fixed costs without delivering the intended benefits of load distribution or redundancy.