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| **CENTRAL HUDSON GAS & ELECTRIC CORPORATION**                                                                         | **Exhibit (12) (i) (i)** |
| **Computation of Ratio of Earnings to Fixed Charges      and Ratio of Earnings to Fixed Charges and Preferred Dividends** |                     |
|                                                                                                                      |                     |

|        |        |                                                                                                                                                                                                 | 2007   |        | 2006   |        | Year Ended December 31, |   |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|-------------------------|--------|
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|   |   |                                                                                                                                                                                                 |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
|   |   | Earnings: ($000)                                                                                                                                                                                     |   |        |   |   |                         |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |
| A.     |   |     Net Income                                                                                                                                                                   | $      | 6,105  |   | $      | 24,738                  |   | $ | 31,658 |   | $ | 10,773 |   | $ | 27,951 |   | $ | 34,871 |   | $ | 35,635 |   | $ | 38,648 |   | $ | 38,875 |   | $ | 32,524 |   |
| B.     |   |     Federal & State Income Tax                                                                                                                                               |   | 4,161  |   |   | 15,032                  |   |   | 18,470 |   |   | 5,534 |   |   | 18,090 |   |   | 21,528 |   |   | 23,936 |   |   | 28,426 |   |   | 26,981 |   |   | 21,690 |   |
|   |   |                                                                                                                                                                                                 |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
| C.     |   |     Earnings before Income Taxes                                                                                                                                                 | $      | 10,266 |   | $      | 39,770                  |   | $ | 50,128 |   | $ | 16,307 |   | $ | 46,041 |   | $ | 56,399 |   | $ | 59,571 |   | $ | 67,074 |   | $ | 65,856 |   | $ | 54,214 |   |
|   |   |                                                                                                                                                                                                 |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
| D.     |   |     Fixed Charges                                                                                                                                                                |   |   |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   |   |          Interest on Mortgage Bonds                                                                                                                     |   | 0      |   |   | 0                       |   |   | 0 |   |   | 0 |   |   | 0 |   |   | 0 |   |   | 0 |   |   | 0 |   |   | 570 |   |   | 2,136 |   |
|   |   |          Interest on Other Long-Term                   Debt   |   | 4,616  |   |   | 13,603                  |   |   | 17,889 |   |   | 4,115 |   |   | 12,139 |   |   | 16,425 |   |   | 13,826 |   |   | 11,488 |   |   | 10,699 |   |   | 9,819 |   |
|   |   |          Other Interest                                                                                                                                 |   | 1,322  |   |   | 3,301                   |   |   | 4,075 |   |   | 1,105 |   |   | 2,848 |   |   | 3,622 |   |   | 2,577 |   |   | 5,517 |   |   | 9,828 |   (1) |   | 11,772 |   |
|   |   |          Interest Portion of Rents (2)                                                                                                                  |   | 206    |   |   | 623                     |   |   | 857 |   |   | 192 |   |   | 584 |   |   | 818 |   |   | 835 |   |   | 954 |   |   | 768 |   |   | 749 |   |
|   |   |          Amortization of Premium &                  Expense on Debt |   | 236    |   |   | 720                     |   |   | 976 |   |   | 245 |   |   | 735 |   |   | 991 |   |   | 1,043 |   |   | 1,066 |   |   | 1,159 |   |   | 1,249 |   |
|   |   |                                                                                                                                                                                                 |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
| E.     |   |                   Total Fixed Charges                                                                      | $      | 6,380  |   | $      | 18,247                  |   | $ | 23,797 |   | $ | 5,657 |   | $ | 16,306 |   | $ | 21,856 |   | $ | 18,281 |   | $ | 19,025 |   | $ | 23,024 |   | $ | 25,725 |   |
|   |   |                                                                                                                                                                                                 |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
|   |   |                                                                                                                                                                                                 |   |   |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   |   |     Total Earnings                                                                                                                                                               | $      | 16,646 |   | $      | 58,017                  |   | $ | 73,925 |   | $ | 21,964 |   | $ | 62,347 |   | $ | 78,255 |   | $ | 77,852 |   | $ | 86,099 |   | $ | 88,880 |   | $ | 79,939 |   |
|   |   |                                                                                                                                                                                                 |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
|   |   |                                                                                                                                                                                                 |   |   |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   |   | Preferred Dividend Requirements:                                                                                                                                                                     |   |   |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| F.     |   |     Allowance for Preferred Stock          Dividends Under IRC Sec 247                                                              | $      | 242    |   | $      | 727                     |   | $ | 970 |   | $ | 242 |   | $ | 727 |   | $ | 970 |   | $ | 970 |   | $ | 970 |   | $ | 1,387 |   (1) | $ | 2,161 |   |
| 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 |   |   | 1,260 |   |   | 2,034 |   |
| I.     |   |     Ratio of Earnings before Income         Taxes to Net Income   (C/A)                                                   |   | 1.682  |   |   | 1.608                   |   |   | 1.583 |   |   | 1.514 |   |   | 1.647 |   |   | 1.617 |   |   | 1.672 |   |   | 1.736 |   |   | 1.694 |   |   | 1.667 |   |
|   |   |                                                                                                                                                                                                 |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
| J.     |   |     Pref. Dividend (Pre-tax)   (H x I)                                                                                                                                 |   | 353    |   |   | 1,015                   |   |   | 1,334 |   |   | 318 |   |   | 1,039 |   |   | 1,363 |   |   | 1,409 |   |   | 1,463 |   |   | 2,134 |   |   | 3,391 |   |
| K.     |   |     Plus Allowable Dividend Deduction                                                                                                                                            |   | 32     |   |   | 96                      |   |   | 127 |   |   | 32 |   |   | 96 |   |   | 127 |   |   | 127 |   |   | 127 |   |   | 127 |   |   | 127 |   |
|   |   |                                                                                                                                                                                                 |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
| L.     |   |     Preferred Dividend Factor                                                                                                                                                    |   | 385    |   |   | 1,111                   |   |   | 1,461 |   |   | 350 |   |   | 1,135 |   |   | 1,490 |   |   | 1,536 |   |   | 1,590 |   |   | 2,261 |   |   | 3,518 |   |
| M.     |   |     Fixed Charges   (D)                                                                                                                                                |   | 6,380  |   |   | 18,247                  |   |   | 23,797 |   |   | 5,657 |   |   | 16,306 |   |   | 21,856 |   |   | 18,281 |   |   | 19,025 |   |   | 23,024 |   |   | 25,725 |   |
|   |   |                                                                                                                                                                                                 |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
| N.     |   |     Total Fixed Charges and Preferred         Dividends                                                                                  | $      | 6,765  |   | $      | 19,358                  |   | $ | 25,258 |   | $ | 6,007 |   | $ | 17,441 |   | $ | 23,346 |   | $ | 19,817 |   | $ | 20,615 |   | $ | 25,285 |   | $ | 29,243 |   |
|   |   |                                                                                                                                                                                                 |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
| O.     |   |     Ratio of Earnings to Fixed Charges          (E/D)                                                                                    |   | 2.6    |   |   | 3.2                     |   |   | 3.1 |   |   | 3.9 |   |   | 3.8 |   |   | 3.6 |   |   | 4.3 |   |   | 4.5 |   |   | 3.9 |   |   | 3.1 |   |
|   |   |                                                                                                                                                                                                 |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
|   |   |                                                                                                                                                                                                 |   |   |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| P.     |   |     Ratio of Earnings to Fixed Charges     and Preferred Dividends   (E/N)                                                                         |   | 2.5    |   |   | 3.0                     |   |   | 2.9 |   |   | 3.7 |   |   | 3.6 |   |   | 3.4 |   |   | 3.9 |   |   | 4.2 |   |   | 3.5 |   |   | 2.7 |   |
|   |   |                                                                                                                                                                                                 |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |

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| (1)    | Reflects SFAS No. 150, titled Accounting for Certain Financial Instruments with Characteristics of both Liabilities and Equity, reclassification    of $208,750 in preferred stock dividends to interest expense for the quarter ended September 30, 2003. |
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| (2)    | The percentage of rent included in the fixed charges calculation is a reasonable approximation of the interest factor.                                                                                                                                     |