As stated here and here one can create reserved IP adresses in Microsoft Azure.
Used Powershell command: New-AzureReservedIP.
What are the powershell parameters -ReservedIPName and -Label used for? What´s the difference?
As with pretty much all of the Azure service management APIs, the Name is a unique identifier that you use when calling other APIs (ie. passing the name into the New-AzureVM command). The label is just a descriptive label that you can use for your own purposes (ie. "Static IP for Billing system").