OpenELEC for whatever reason does has incorrect time on setting up. This can be quite annoying. But it is actually quite easy to fix. This video shows how to set OpenELEC time zone on Raspberry Pi 2.0 Model B. This method also works on Raspberry Pi 1.0.
Video: Set OpenELEC Time Zone on Raspberry Pi 1 and 2
Anand is a self-learned computer enthusiast, hopeless tinkerer (if it ain't broken, fix it), a part-time blogger, and a Scientist during the day. He has been blogging since 2010 on Linux, Ubuntu, Home/Media/File Servers, Smart Home Automation, and related HOW-TOs.