KIEV, Sept. 19 – Parliament has registered a draft bill on a decision to cancel daylight saving time in Ukraine, Speaker Volodymyr Lytvyn said.

"There is a draft bill on a decision not to change [summer time to winter time], and I think that we'll approve it," he said during a press conference on Monday.

"To tell the truth, there will be losses of electricity worth about UAH 300 million," he said.

Traditionally the switch to summer time occurs on the last Sunday of March and the change to winter time occurs on the last Sunday of October.

Earlier, Russian President Dmitry Medvedev announced that he had decided to abolish daylight saving time from the autumn of 2011.