CH ENERGY GROUP, INC.Computation
 of Ratio of Earnings to Fixed Charges
EXHIBIT 12 (i)


|   |      |                                                                               |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|-- | ---- | ----------------------------------------------------------------------------- |  | ------------------------ | ------ | ------------------------- | - | ------------------------ | - | ---- | ------ | ---- | - | ------ | - | ---- | ------ | ---- | - | ------ | - | - | ------ | - | - | ------ | -
|   |      |                                                                               |  | 2009                     |        | 2008                      |   | Year
 Ended December 31, |  
|   |      |                                                                               |  |                          |        |                           |   |                          |  
|   |      | Earnings: ($000)                                                              |  | 3
 Months
 Ended
 Mar 31 |        | 12
 Months
 Ended
 Mar 31 |   | 3
 Months
 Ended
 Mar 31 |   | 2008 |        | 2007 |   | 2006   |   | 2005 |        | 2004 |  
|   |      |                                                                               |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |  
|A. |      | Net income from Continuing Operations                                         |  | $                        | 23,121 |                           | $ | 38,901                   |   | $    | 19,301 |      | $ | 35,081 |   | $    | 42,636 |      | $ | 43,084 |   | $ | 44,291 |   | $ | 42,423 |  
|B. |      | Preferred Stock Dividends                                                     |  |                          | 242    |                           |   | 970                      |   |      | 242    |      |   | 970    |   |      | 970    |      |   | 970    |   |   | 970    |   |   | 970    |  
|C. |      | Federal and State Income Tax                                                  |  |                          | 14,533 |                           |   | 24,425                   |   |      | 11,937 |      |   | 21,829 |   |      | 21,898 |      |   | 23,769 |   |   | 25,819 |   |   | 31,256 |  
|   | Less | Income from Equity Investments                                                |  |                          | 230    |                           |   | 529                      |   |      | 269    |      |   | 568    |   |      | 1,895  |      |   | 1,810  |   |   | 1,456  |   |   | 922    |  
|   | Plus | Cash Distribution from Equity Investments                                     |  |                          | 689    |                           |   | 2,735                    |   |      | 417    |      |   | 2,463  |   |      | 3,427  |      |   | 1,315  |   |   | 1,833  |   |   | 1,776  |  
|   |      |                                                                               |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|D. |      | Earnings before Income Taxes and Equity
Inv.                                  |  | $                        | 38,355 |                           | $ | 66,502                   |   | $    | 31,628 |      | $ | 59,775 |   | $    | 67,036 |      | $ | 67,328 |   | $ | 71,457 |   | $ | 75,503 |  
|   |      |                                                                               |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|E. |      | Fixed Charges                                                                 |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|   |      | Interest on Other-Long-Term Debt                                              |  |                          | 4,780  |                           |   | 20,209                   |   |      | 5,089  |      |   | 20,518 |   |      | 18,653 |      |   | 16,425 |   |   | 13,826 |   |   | 11,488 |  
|   |      | Other Interest                                                                |  |                          | 1,289  |                           |   | 5,141                    |   |      | 1,202  |      |   | 5,054  |   |      | 4,379  |      |   | 3,622  |   |   | 2,577  |   |   | 5,517  |  
|   |      | Interest Portion of Rents(1)                                                  |  |                          | 315    |                           |   | 1,185                    |   |      | 350    |      |   | 1,220  |   |      | 1,278  |      |   | 1,112  |   |   | 1,077  |   |   | 1,192  |  
|   |      | Amortization of Premium & Expense on
Debt                                     |  |                          | 244    |                           |   | 982                      |   |      | 244    |      |   | 982    |   |      | 963    |      |   | 991    |   |   | 1,043  |   |   | 1,066  |  
|   |      | Preferred Stock Dividends Requirements of Central
Hudson                      |  |                          | 377    |                           |   | 1,533                    |   |      | 372    |      |   | 1,525  |   |      | 1,423  |      |   | 1,415  |   |   | 1,458  |   |   | 1,594  |  
|   |      |                                                                               |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|   |      | Total
 Fixed Charges                                                          |  | $                        | 7,005  |                           | $ | 29,050                   |   | $    | 7,257  |      | $ | 29,299 |   | $    | 26,696 |      | $ | 23,565 |   | $ | 19,981 |   | $ | 20,857 |  
|   |      |                                                                               |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|   | Less | Preferred Stock Dividends Requirements of Central
Hudson                      |  |                          | 377    |                           |   | 1,533                    |   |      | 372    |      |   | 1,525  |   |      | 1,423  |      |   | 1,415  |   |   | 1,458  |   |   | 1,594  |  
|   |      |                                                                               |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|F. |      | Total Earnings                                                                |  | $                        | 44,983 |                           | $ | 94,019                   |   | $    | 38,513 |      | $ | 87,549 |   | $    | 92,309 |      | $ | 89,478 |   | $ | 89,980 |   | $ | 94,766 |  
|   |      |                                                                               |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|   |      |                                                                               |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|   |      | Preferred Dividend Requirements:                                              |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|G. |      | Allowance for Preferred Stock Dividends Under IRC
Sec. 247                    |  | $                        | 242    |                           | $ | 970                      |   | $    | 242    |      | $ | 970    |   | $    | 970    |      | $ | 970    |   | $ | 970    |   | $ | 970    |  
|H. |      | Less Allowable Dividend Deduction                                             |  |                          | (32    | )                         |   | (127                     | ) |      | (32    | )    |   | (127   | ) |      | (127   | )    |   | (127   | ) |   | (127   | ) |   | (127   | )
|   |      |                                                                               |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|I. |      | Net Subject to Gross-Up                                                       |  |                          | 210    |                           |   | 843                      |   |      | 210    |      |   | 843    |   |      | 843    |      |   | 843    |   |   | 843    |   |   | 843    |  
|J. |      | Ratio of Earnings before Income
Taxes and Equity Inv. To Net Income
(D/(A+B)) |  |                          | 1.642  |                           |   | 1.668                    |   |      | 1.618  |      |   | 1.658  |   |      | 1.537  |      |   | 1.528  |   |   | 1.579  |   |   | 1.740  |  
|   |      |                                                                               |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|K. |      | Preferred Dividend (Pre-tax) (I x J)                                          |  |                          | 345    |                           |   | 1,406                    |   |      | 340    |      |   | 1,398  |   |      | 1,296  |      |   | 1,288  |   |   | 1,331  |   |   | 1,467  |  
|L. |      | Plus Allowable Dividend Deduction                                             |  |                          | 32     |                           |   | 127                      |   |      | 32     |      |   | 127    |   |      | 127    |      |   | 127    |   |   | 127    |   |   | 127    |  
|   |      |                                                                               |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|M. |      | Preferred Dividend Factor                                                     |  | $                        | 377    |                           |   | 1,533                    |   | $    | 372    |      | $ | 1,525  |   | $    | 1,423  |      | $ | 1,415  |   | $ | 1,458  |   | $ | 1,594  |  
|   |      |                                                                               |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|   |      |                                                                               |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|N. |      | Ratio of Earnings to Fixed Charges (F/E)                                      |  |                          | 6.4    |                           |   | 3.2                      |   |      | 5.3    |      |   | 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 interest factor. - 93 -   CENTRAL HUDSON GAS & ELECTRIC CORPORATIONComputation
 of Ratio of Earnings to Fixed Chargesand Ratio of
 Earnings to Fixed Charges and Preferred Dividends
EXHIBIT 12 (i) (i)


|   |                                                                  |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|-- | ---------------------------------------------------------------- |  | ------------------------ | ------ | ------------------------- | - | ------------------------ | - | ---- | ------ | ---- | - | ------ | - | ---- | ------ | ---- | - | ------ | - | - | ------ | - | - | ------ | -
|   |                                                                  |  | 2009                     |        | 2008                      |   | Year
 Ended December 31, |  
|   |                                                                  |  |                          |        |                           |   |                          |  
|   | Earnings: ($000)                                                 |  | 3
 Months
 Ended
 Mar 31 |        | 12
 Months
 Ended
 Mar 31 |   | 3
 Months
 Ended
 Mar 31 |   | 2008 |        | 2007 |   | 2006   |   | 2005 |        | 2004 |  
|   |                                                                  |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |  
|A. | Net income                                                       |  | $                        | 12,593 |                           | $ | 28,084                   |   | $    | 11,747 |      | $ | 27,238 |   | $    | 33,436 |      | $ | 34,871 |   | $ | 35,635 |   | $ | 38,648 |  
|B. | Federal and State Income Tax                                     |  |                          | 8,806  |                           |   | 19,817                   |   |      | 8,262  |      |   | 19,273 |   |      | 20,326 |      |   | 21,528 |   |   | 23,936 |   |   | 28,426 |  
|   |                                                                  |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|C. | Earnings before Income Taxes                                     |  | $                        | 21,399 |                           | $ | 47,901                   |   | $    | 20,009 |      | $ | 46,511 |   | $    | 53,762 |      | $ | 56,399 |   | $ | 59,571 |   | $ | 67,074 |  
|   |                                                                  |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|D. | Fixed Charges                                                    |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|   | Interest on Other-Long-Term Debt                                 |  |                          | 4,780  |                           |   | 20,209                   |   |      | 5,089  |      |   | 20,518 |   |      | 18,653 |      |   | 16,425 |   |   | 13,826 |   |   | 11,488 |  
|   | Other Interest                                                   |  |                          | 1,220  |                           |   | 4,701                    |   |      | 1,014  |      |   | 4,495  |   |      | 4,378  |      |   | 3,622  |   |   | 2,577  |   |   | 5,517  |  
|   | Interest Portion of Rents(1)                                     |  |                          | 209    |                           |   | 752                      |   |      | 245    |      |   | 788    |   |      | 898    |      |   | 818    |   |   | 835    |   |   | 954    |  
|   | Amortization of Premium & Expense on
Debt                        |  |                          | 244    |                           |   | 982                      |   |      | 244    |      |   | 982    |   |      | 963    |      |   | 991    |   |   | 1,043  |   |   | 1,066  |  
|   |                                                                  |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|   | Total Fixed Charges                                              |  | $                        | 6,453  |                           | $ | 26,644                   |   | $    | 6,592  |      | $ | 26,783 |   | $    | 24,892 |      | $ | 21,856 |   | $ | 18,281 |   | $ | 19,025 |  
|   |                                                                  |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|   |                                                                  |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|E. | Total Earnings                                                   |  | $                        | 27,852 |                           | $ | 74,545                   |   | $    | 26,601 |      | $ | 73,294 |   | $    | 78,654 |      | $ | 78,255 |   | $ | 77,852 |   | $ | 86,099 |  
|   |                                                                  |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|   |                                                                  |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|   | Preferred Dividend Requirements:                                 |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|F. | Allowance for Preferred Stock Dividends Under IRC
Sec. 247       |  | $                        | 242    |                           | $ | 970                      |   | $    | 242    |      | $ | 970    |   | $    | 970    |      | $ | 970    |   | $ | 970    |   | $ | 970    |  
|G. | Less Allowable Dividend Deduction                                |  |                          | (32    | )                         |   | (127                     | ) |      | (32    | )    |   | (127   | ) |      | (127   | )    |   | (127   | ) |   | (127   | ) |   | (127   | )
|   |                                                                  |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|H. | Net Subject to Gross-Up                                          |  |                          | 210    |                           |   | 843                      |   |      | 210    |      |   | 843    |   |      | 843    |      |   | 843    |   |   | 843    |   |   | 843    |  
|I. | Ratio of Earnings before Income Taxes to Net Income
(C/A)        |  |                          | 1.699  |                           |   | 1.706                    |   |      | 1.703  |      |   | 1.708  |   |      | 1.608  |      |   | 1.617  |   |   | 1.672  |   |   | 1.736  |  
|   |                                                                  |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|J. | Preferred Dividend (Pre-tax) (H x I)                             |  |                          | 357    |                           |   | 1,438                    |   |      | 358    |      |   | 1,440  |   |      | 1,356  |      |   | 1,363  |   |   | 1,409  |   |   | 1,463  |  
|K. | Plus Allowable Dividend Deduction                                |  |                          | 32     |                           |   | 127                      |   |      | 32     |      |   | 127    |   |      | 127    |      |   | 127    |   |   | 127    |   |   | 127    |  
|   |                                                                  |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|L. | Preferred Dividend Factor                                        |  |                          | 389    |                           |   | 1,565                    |   |      | 390    |      |   | 1,567  |   |      | 1,483  |      |   | 1,490  |   |   | 1,536  |   |   | 1,590  |  
|M. | Fixed Charges (D)                                                |  |                          | 6,453  |                           |   | 26,644                   |   |      | 6,592  |      |   | 26,783 |   |      | 24,892 |      |   | 21,856 |   |   | 18,281 |   |   | 19,025 |  
|   |                                                                  |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|N. | Total Fixed Charges and Preferred
Dividends                      |  | $                        | 6,842  |                           | $ | 28,209                   |   | $    | 6,982  |      | $ | 28,350 |   | $    | 26,375 |      | $ | 23,346 |   | $ | 19,817 |   | $ | 20,615 |  
|   |                                                                  |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|   |                                                                  |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|O. | Ratio of Earnings to Fixed Charges (E/D)                         |  |                          | 4.3    |                           |   | 2.8                      |   |      | 4.0    |      |   | 2.7    |   |      | 3.2    |      |   | 3.6    |   |   | 4.3    |   |   | 4.5    |  
|   |                                                                  |  |                          |        |                           |   |                          |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|P. | Ratio of Earnings to Fixed Charges and Preferred
Dividends (E/N) |  |                          | 4.1    |                           |   | 2.6                      |   |      | 3.8    |      |   | 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 interest factor. - 94 -