The only thing I can think of is that, since they are both wireless and on the same network, they are trying to talk to each other or connect in some way. Maybe the printer is off now and the netbook is trying to find it? Even if this is the case though I can't see it affecting battery life that drastically.
Have you looked at the event log to see if there is anything in there? How about watching your network traffic for a few minutes to see what it is doing? Does it (network traffic) change if the printer is on or off?
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