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This is a bug in ios 5 that was presumably be removed in ios5.1 but I too see this issue remaining after updating, i just disabled it.
 
Looks like a bug. Tried a full reset and it is still there, all the time.
Right now the only way to prevent this, and preserving the battery is to disable location service for time zone.
Am I the only one ?

Per the Apple 'Genius' bar I was told to disable location services for everything but Siri. I now have a really nice looking Blackberry device.
 
Have been experiencing severe battery drain on a new iPad. It seems that "Setting Time Zone" was constantly triggering Location Services. Have now disabled it and will see what that does. Not exactly sure what I'm giving up by disabling it. Found this thread while searching for info on it.
 
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Disabling Setting Time Zone seems to have fixed the problem. Am now getting the battery life I expected.
 
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