Indexing is the usual cause for poor battery life. There's really no reason for a firmware update to affect battery life; the o/s isn't doing any more (or less) than it was before. I installed 5.7.2.1 on my Voyage about two weeks ago, and haven't noticed any change in battery life as a result.
Keeping WiFi turned off will roughly double the battery life of a Kindle. Might you have had it turned off before, but on now?
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