----

| CH      ENERGY GROUP, INC.                             |   |   |                                                                                    |   |          |   |   |          |   |   |                         |   |   |          |   |   |          |   |   |   |   |   |   |   |   |                |   |   |   |   |
|--------------------------------------------------------|--------|--------|-----------------------------------------------------------------------------------------|--------|---------------|--------|--------|---------------|--------|--------|------------------------------|--------|--------|---------------|--------|--------|---------------|--------|--------|--------|--------|--------|--------|--------|--------|---------------------|--------|--------|--------|--------|
| Computation      of Ratio of Earnings to Fixed Charges |   |   |                                                                                    |   |          |   |   |          |   |   |                         |   |   |          |   |   |          |   |   |   |   |   |   |   |   | EXHIBIT      12 (i) |
|                                                   |   |   |                                                                                    |   |          |   |   |          |   |   |                         |   |   |          |   |   |          |   |   |   |   |   |   |   |   |                |   |   |   |   |   |   |   |
|                                                   |   |   |                                                                                    |   | 2009          |   |   | 2008          |   |   | Year      Ended December 31, |   |
|                                                   |   |   |                                                                                    |   | 3      Months |   |   | 9      Months |   |   | 12      Months               |   |   | 3      Months |   |   | 9      Months |   |   |   |   |   |   |   |   |                |   |   |   |   |   |   |   |
|                                                   |   |   |                                                                                    |   | Ended         |   |   | Ended         |   |   | Ended                        |   |   | Ended         |   |   | Ended         |   |   |   |   |   |   |   |   |                |   |   |   |   |   |   |   |
|                                                   |   |   | Earnings:      ($000)                                                                   |   | Sep      30   |   |   | Sep      30   |   |   | Sep      30                  |   |   | Sep      30   |   |   | Sep      30   |   |   | 2008   |   |   | 2007   |   |   | 2006                |   |   | 2005   |   |   | 2004 |   |
| A.                                                     |   |   | Net      income from Continuing Operations                                              |   | $             | 5,352  |   |          | $      | 27,016 |                         |   | $      | 38,241        |   |   | $             | 2,885  |   |   | $      | 23,856 |   |   | $      | 35,081              |   |   | $      | 42,636 |   |   | $ | 43,084 |   |   | $ | 44,291 |   |   | $ | 42,423 |   |
| B.                                                     |   |   | Preferred      Stock Dividends                                                          |   |          | 242    |   |          |   | 727    |                         |   |   | 970           |   |   |          | 242    |   |   |   | 727    |   |   |   | 970                 |   |   |   | 970    |   |   |   | 970 |   |   |   | 970 |   |   |   | 970 |   |
| C.                                                     |   |   | Federal      and State Income Tax                                                       |   |          | 3,327  |   |          |   | 17,152 |                         |   |   | 24,879        |   |   |          | 1,193  |   |   |   | 14,102 |   |   |   | 21,829              |   |   |   | 21,898 |   |   |   | 23,769 |   |   |   | 25,819 |   |   |   | 31,256 |   |
|                                                   |   | Less   | Income      from Equity Investments                                                     |   |          | (75    | )      |          |   | 2      |                         |   |   | 111           |   |   |          | 123    |   |   |   | 459    |   |   |   | 568                 |   |   |   | 1,895  |   |   |   | 1,810 |   |   |   | 1,456 |   |   |   | 922 |   |
|                                                   |   | Plus   | Cash      Distribution from Equity Investments                                          |   |          | 324    |   |          |   | 1,353  |                         |   |   | 1,522         |   |   |          | 913    |   |   |   | 2,294  |   |   |   | 2,463               |   |   |   | 3,427  |   |   |   | 1,315 |   |   |   | 1,833 |   |   |   | 1,776 |   |
| D.                                                     |   |   | Earnings      before Income Taxes and Equity Inv.                                       |   | $             | 9,320  |   |          | $      | 46,246 |                         |   | $      | 65,501        |   |   | $             | 5,110  |   |   | $      | 40,520 |   |   | $      | 59,775              |   |   | $      | 67,036 |   |   | $ | 67,328 |   |   | $ | 71,457 |   |   | $ | 75,503 |   |
| E.                                                     |   |   | Fixed      Charges                                                                      |   |          |   |   |          |   |   |                         |   |   |          |   |   |          |   |   |   |   |   |   |   |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                   |   |   | Interest      on Other-Long-Term Debt                                                   |   |          | 5,355  |   |          |   | 15,229 |                         |   |   | 20,683        |   |   |          | 4,926  |   |   |   | 15,064 |   |   |   | 20,518              |   |   |   | 18,653 |   |   |   | 16,425 |   |   |   | 13,826 |   |   |   | 11,488 |   |
|                                                   |   |   | Other      Interest                                                                     |   |          | 1,514  |   |          |   | 3,946  |                         |   |   | 5,174         |   |   |          | 1,413  |   |   |   | 3,826  |   |   |   | 5,054               |   |   |   | 4,379  |   |   |   | 3,622 |   |   |   | 2,577 |   |   |   | 5,517 |   |
|                                                   |   |   | Interest      Portion of Rents(1)                                                       |   |          | 223    |   |          |   | 792    |                         |   |   | 1,033         |   |   |          | 327    |   |   |   | 979    |   |   |   | 1,220               |   |   |   | 1,278  |   |   |   | 1,112 |   |   |   | 1,077 |   |   |   | 1,192 |   |
|                                                   |   |   | Amortization      of Premium & Expense on Debt                                      |   |          | 244    |   |          |   | 732    |                         |   |   | 982           |   |   |          | 244    |   |   |   | 732    |   |   |   | 982                 |   |   |   | 963    |   |   |   | 991 |   |   |   | 1,043 |   |   |   | 1,066 |   |
|                                                   |   |   | Preferred      Stock Dividends Requirements of Central Hudson                           |   |          | 382    |   |          |   | 1,148  |                         |   |   | 1,535         |   |   |          | 375    |   |   |   | 1,136  |   |   |   | 1,525               |   |   |   | 1,423  |   |   |   | 1,415 |   |   |   | 1,458 |   |   |   | 1,594 |   |
|                                                   |   |   | Total      Fixed Charges                                                                |   | $             | 7,718  |   |          | $      | 21,847 |                         |   | $      | 29,407        |   |   | $             | 7,285  |   |   | $      | 21,737 |   |   | $      | 29,299              |   |   | $      | 26,696 |   |   | $ | 23,565 |   |   | $ | 19,981 |   |   | $ | 20,857 |   |
|                                                   |   | Less   | Preferred      Stock Dividends Requirements of Central Hudson                           |   |          | 382    |   |          |   | 1,148  |                         |   |   | 1,535         |   |   |          | 375    |   |   |   | 1,136  |   |   |   | 1,525               |   |   |   | 1,423  |   |   |   | 1,415 |   |   |   | 1,458 |   |   |   | 1,594 |   |
| F.                                                     |   |   | Total      Earnings                                                                     |   | $             | 16,656 |   |          | $      | 66,945 |                         |   | $      | 93,373        |   |   | $             | 12,020 |   |   | $      | 61,121 |   |   | $      | 87,549              |   |   | $      | 92,309 |   |   | $ | 89,478 |   |   | $ | 89,980 |   |   | $ | 94,766 |   |
|                                                   |   |   |                                                                                    |   |          |   |   |          |   |   |                         |   |   |          |   |   |          |   |   |   |   |   |   |   |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                   |   |   | Preferred      Dividend Requirements:                                                   |   |          |   |   |          |   |   |                         |   |   |          |   |   |          |   |   |   |   |   |   |   |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| G.                                                     |   |   | Allowance      for Preferred Stock Dividends Under IRC Sec. 247                         |   | $             | 242    |   |          | $      | 727    |                         |   | $      | 970           |   |   | $             | 242    |   |   | $      | 727    |   |   | $      | 970                 |   |   | $      | 970    |   |   | $ | 970 |   |   | $ | 970 |   |   | $ | 970 |   |
| H.                                                     |   |   | Less      Allowable Dividend Deduction                                                  |   |          | (32    | )      |          |   | (96    | )                            |   |   | (127          | )      |   |          | (32    | )      |   |   | (96    | )      |   |   | (127                | )      |   |   | (127   | ) |   |   | (127 | ) |   |   | (127 | ) |   |   | (127 | ) |
| I.                                                     |   |   | Net      Subject to Gross-Up                                                            |   |          | 210    |   |          |   | 631    |                         |   |   | 843           |   |   |          | 210    |   |   |   | 631    |   |   |   | 843                 |   |   |   | 843    |   |   |   | 843 |   |   |   | 843 |   |   |   | 843 |   |
| J.                                                     |   |   | Ratio      of Earnings before Income Taxes and Equity Inv. To Net Income      (D/(A+B)) |   |          | 1.666  |   |          |   | 1.667  |                         |   |   | 1.670         |   |   |          | 1.634  |   |   |   | 1.648  |   |   |   | 1.658               |   |   |   | 1.537  |   |   |   | 1.528 |   |   |   | 1.579 |   |   |   | 1.740 |   |
| K.                                                     |   |   | Preferred      Dividend (Pre-tax) (I x J)                                               |   |          | 350    |   |          |   | 1,052  |                         |   |   | 1,408         |   |   |          | 343    |   |   |   | 1,040  |   |   |   | 1,398               |   |   |   | 1,296  |   |   |   | 1,288 |   |   |   | 1,331 |   |   |   | 1,467 |   |
| L.                                                     |   |   | Plus      Allowable Dividend Deduction                                                  |   |          | 32     |   |          |   | 96     |                         |   |   | 127           |   |   |          | 32     |   |   |   | 96     |   |   |   | 127                 |   |   |   | 127    |   |   |   | 127 |   |   |   | 127 |   |   |   | 127 |   |
| M.                                                     |   |   | Preferred      Dividend Factor                                                          |   | $             | 382    |   |          | $      | 1,148  |                         |   | $      | 1,535         |   |   | $             | 375    |   |   | $      | 1,136  |   |   | $      | 1,525               |   |   | $      | 1,423  |   |   | $ | 1,415 |   |   | $ | 1,458 |   |   | $ | 1,594 |   |
|                                                   |   |   |                                                                                    |   |          |   |   |          |   |   |                         |   |   |          |   |   |          |   |   |   |   |   |   |   |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| N.                                                     |   |   | Ratio      of Earnings to Fixed Charges (F/E)                                           |   |          | 2.2    |   |          |   | 3.1    |                         |   |   | 3.2           |   |   |          | 1.6    |   |   |   | 2.8    |   |   |   | 3.0                 |   |   |   | 3.5    |   |   |   | 3.8 |   |   |   | 4.5 |   |   |   | 4.5 |   |

| (1) |    The      percentage of rent included in the fixed charges calculation is a      reasonable approximation of the interestfactor. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------|

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| CENTRAL      HUDSON GAS & ELECTRIC CORPORATION                  |   |                                                                  |   |          |   |   |          |   |   |                         |   |   |          |   |   |          |   |                    |   |   |   |   |   |   |   |   |   |   |
|---------------------------------------------------------------------|--------|-----------------------------------------------------------------------|--------|---------------|--------|--------|---------------|--------|--------|------------------------------|--------|--------|---------------|--------|--------|---------------|--------|-------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Computation      of Ratio of Earnings to Fixed Charges              |   |                                                                  |   |          |   |   |          |   |   |                         |   |   |          |   |   |          |   |                    |   |   |   |   |   |   |   |   |   |   |
| and      Ratio of Earnings to Fixed Charges and Preferred Dividends |   |                                                                  |   |          |   |   |          |   |   |                         |   |   |          |   |   |          |   | EXHIBIT      12 (i) (i) |   |
|                                                                |   |                                                                  |   |          |   |   |          |   |   |                         |   |   |          |   |   |          |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                |   |                                                                  |   | 2009          |   |   | 2008          |   |   | Year      Ended December 31, |   |
|                                                                |   |                                                                  |   | 3      Months |   |   | 9      Months |   |   | 12      Months               |   |   | 3      Months |   |   | 9      Months |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                |   |                                                                  |   | Ended         |   |   | Ended         |   |   | Ended                        |   |   | Ended         |   |   | Ended         |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                |   | Earnings:      ($000)                                                 |   | Sep      30   |   |   | Sep      30   |   |   | Sep      30                  |   |   | Sep      30   |   |   | Sep      30   |   |                    | 2008   |   |   | 2007   |   |   | 2006   |   |   | 2005   |   |   | 2004 |   |
| A.                                                                  |   | Net      income                                                       |   | $             | 8,871  |   |          | $      | 22,682 |                         |   | $      | 27,855        |   |   | $             | 6,127  |                    |   | $      | 22,065 |   |   | $      | 27,238 |   |   | $      | 33,436 |   |   | $ | 34,871 |   |   | $ | 35,635 |   |   | $ | 38,648 |   |
| B.                                                                  |   | Federal      and State Income Tax                                     |   |          | 6,333  |   |          |   | 16,062 |                         |   |   | 20,123        |   |   |          | 4,346  |                    |   |   | 15,212 |   |   |   | 19,273 |   |   |   | 20,326 |   |   |   | 21,528 |   |   |   | 23,936 |   |   |   | 28,426 |   |
| C.                                                                  |   | Earnings      before Income Taxes                                     |   | $             | 15,204 |   |          | $      | 38,744 |                         |   | $      | 47,978        |   |   | $             | 10,473 |                    |   | $      | 37,277 |   |   | $      | 46,511 |   |   | $      | 53,762 |   |   | $ | 56,399 |   |   | $ | 59,571 |   |   | $ | 67,074 |   |
| D.                                                                  |   | Fixed      Charges                                                    |   |          |   |   |          |   |   |                         |   |   |          |   |   |          |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                |   | Interest      on Other-Long-Term Debt                                 |   |          | 4,515  |   |          |   | 13,863 |                         |   |   | 19,317        |   |   |          | 4,926  |                    |   |   | 15,064 |   |   |   | 20,518 |   |   |   | 18,653 |   |   |   | 16,425 |   |   |   | 13,826 |   |   |   | 11,488 |   |
|                                                                |   | Other      Interest                                                   |   |          | 1,495  |   |          |   | 3,823  |                         |   |   | 5,019         |   |   |          | 1,303  |                    |   |   | 3,299  |   |   |   | 4,495  |   |   |   | 4,378 |   |   |   | 3,622 |   |   |   | 2,577 |   |   |   | 5,517 |   |
|                                                                |   | Interest      Portion of Rents(1)                                     |   |          | 127    |   |          |   | 491    |                         |   |   | 619           |   |   |          | 218    |                    |   |   | 660    |   |   |   | 788    |   |   |   | 898 |   |   |   | 818 |   |   |   | 835 |   |   |   | 954 |   |
|                                                                |   | Amortization      of Premium & Expense on Debt                    |   |          | 244    |   |          |   | 732    |                         |   |   | 982           |   |   |          | 244    |                    |   |   | 732    |   |   |   | 982    |   |   |   | 963 |   |   |   | 991 |   |   |   | 1,043 |   |   |   | 1,066 |   |
|                                                                |   | Total      Fixed Charges                                              |   | $             | 6,381  |   |          | $      | 18,909 |                         |   | $      | 25,937        |   |   | $             | 6,691  |                    |   | $      | 19,755 |   |   | $      | 26,783 |   |   | $      | 24,892 |   |   | $ | 21,856 |   |   | $ | 18,281 |   |   | $ | 19,025 |   |
|                                                                |   |                                                                  |   |          |   |   |          |   |   |                         |   |   |          |   |   |          |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| E.                                                                  |   | Total      Earnings                                                   |   | $             | 21,585 |   |          | $      | 57,653 |                         |   | $      | 73,915        |   |   | $             | 17,164 |                    |   | $      | 57,032 |   |   | $      | 73,294 |   |   | $      | 78,654 |   |   | $ | 78,255 |   |   | $ | 77,852 |   |   | $ | 86,099 |   |
|                                                                |   |                                                                  |   |          |   |   |          |   |   |                         |   |   |          |   |   |          |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                |   | Preferred      Dividend Requirements:                                 |   |          |   |   |          |   |   |                         |   |   |          |   |   |          |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| F.                                                                  |   | Allowance      for Preferred Stock Dividends Under IRC Sec. 247       |   | $             | 242    |   |          | $      | 727    |                         |   | $      | 970           |   |   | $             | 242    |                    |   | $      | 727    |   |   | $      | 970    |   |   | $      | 970 |   |   | $ | 970 |   |   | $ | 970 |   |   | $ | 970 |   |
| G.                                                                  |   | Less      Allowable Dividend Deduction                                |   |          | (32    | )      |          |   | (96    | )                            |   |   | (127          | )      |   |          | (32    | )                       |   |   | (96    | )      |   |   | (127   | )      |   |   | (127 | ) |   |   | (127 | ) |   |   | (127 | ) |   |   | (127 | ) |
| H.                                                                  |   | Net      Subject to Gross-Up                                          |   |          | 210    |   |          |   | 631    |                         |   |   | 843           |   |   |          | 210    |                    |   |   | 631    |   |   |   | 843    |   |   |   | 843 |   |   |   | 843 |   |   |   | 843 |   |   |   | 843 |   |
| I.                                                                  |   | Ratio      of Earnings before Income Taxes to Net Income (C/A)        |   |          | 1.714  |   |          |   | 1.708  |                         |   |   | 1.722         |   |   |          | 1.709  |                    |   |   | 1.689  |   |   |   | 1.708  |   |   |   | 1.608 |   |   |   | 1.617 |   |   |   | 1.672 |   |   |   | 1.736 |   |
| J.                                                                  |   | Preferred      Dividend (Pre-tax) (H x I)                             |   |          | 360    |   |          |   | 1,078  |                         |   |   | 1,452         |   |   |          | 359    |                    |   |   | 1,066  |   |   |   | 1,440  |   |   |   | 1,356 |   |   |   | 1,363 |   |   |   | 1,409 |   |   |   | 1,463 |   |
| K.                                                                  |   | Plus      Allowable Dividend Deduction                                |   |          | 32     |   |          |   | 96     |                         |   |   | 127           |   |   |          | 32     |                    |   |   | 96     |   |   |   | 127    |   |   |   | 127 |   |   |   | 127 |   |   |   | 127 |   |   |   | 127 |   |
| L.                                                                  |   | Preferred      Dividend Factor                                        |   |          | 392    |   |          |   | 1,174  |                         |   |   | 1,579         |   |   |          | 391    |                    |   |   | 1,162  |   |   |   | 1,567  |   |   |   | 1,483 |   |   |   | 1,490 |   |   |   | 1,536 |   |   |   | 1,590 |   |
| M.                                                                  |   | Fixed      Charges (D)                                                |   |          | 6,381  |   |          |   | 18,909 |                         |   |   | 25,937        |   |   |          | 6,691  |                    |   |   | 19,755 |   |   |   | 26,783 |   |   |   | 24,892 |   |   |   | 21,856 |   |   |   | 18,281 |   |   |   | 19,025 |   |
| N.                                                                  |   | Total      Fixed Charges and Preferred Dividends                      |   | $             | 6,773  |   |          | $      | 20,083 |                         |   | $      | 27,516        |   |   | $             | 7,082  |                    |   | $      | 20,917 |   |   | $      | 28,350 |   |   | $      | 26,375 |   |   | $ | 23,346 |   |   | $ | 19,817 |   |   | $ | 20,615 |   |
|                                                                |   |                                                                  |   |          |   |   |          |   |   |                         |   |   |          |   |   |          |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| O.                                                                  |   | Ratio      of Earnings to Fixed Charges (E/D)                         |   |          | 3.4    |   |          |   | 3.1    |                         |   |   | 2.9           |   |   |          | 2.6    |                    |   |   | 2.9    |   |   |   | 2.7    |   |   |   | 3.2 |   |   |   | 3.6 |   |   |   | 4.3 |   |   |   | 4.5 |   |
| P.                                                                  |   | Ratio      of Earnings to Fixed Charges and Preferred Dividends (E/N) |   |          | 3.2    |   |          |   | 2.9    |                         |   |   | 2.7           |   |   |          | 2.4    |                    |   |   | 2.7    |   |   |   | 2.6    |   |   |   | 3.0 |   |   |   | 3.4 |   |   |   | 3.9 |   |   |   | 4.2 |   |

| (1) | The      percentage of rent included in the fixed charges calculation is a      reasonable approximation of the interestfactor. |
|-----|---------------------------------------------------------------------------------------------------------------------------------|

----