----

----

| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2010 |
|---|-------------------------------------------------------------------------------------------------------------------------------------------------|

| o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ |
|---|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| CommissionFile Number |   | Registrant, State of IncorporationAddress and Telephone Number                                                                              |   | IRS EmployerIdentification No. |
|-----------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------|
|                  |   |                                                                                                                                             |   |                           |
| 0-30512               |   | CH Energy Group, Inc.(Incorporated in New York)284 South AvenuePoughkeepsie, New York 12601-4839(845) 452-2000                              |   | 14-1804460                     |
|                  |   |                                                                                                                                        |   |                           |
|                  |   |                                                                                                                                             |   |                           |
| 1-3268                |   | Central Hudson Gas & Electric Corporation(Incorporated in New York)284 South AvenuePoughkeepsie, New York 12601-4839(845) 452-2000 |   | 14-0555980                     |

----

----

----

| Yes  þ |   | No  o |
|-----------------------|--------|-----------------|

| Yes  o |   | No  o |
|------------------|--------|-----------------|

| Yes  o |   | No  o |
|------------------|--------|-----------------|

| Large Accelerated Filer þ | Accelerated Filer o         |
|--------------------------------|-----------------------------|
| Non-Accelerated Filer o        | Smaller Reporting Company o |

| Large Accelerated Filer o    | Accelerated Filer o         |
|------------------------------|-----------------------------|
| Non-Accelerated Filer þ | Smaller Reporting Company o |

| Yes  o |   | No  þ |
|------------------|--------|----------------------|

----

| Yes  o |   | No  þ |
|------------------|--------|----------------------|

----

FORM 

ITEM 1 – Financial Statements (Unaudited)

| CH Energy Group, Inc.                                                      | PAGE   |
|----------------------------------------------------------------------------|--------|
| Consolidated Statement of Income –                                   |   |
| Three Months Ended March 31, 2010 and 2009                                 | 1      |
|                                                                       |   |
| Consolidated Statement of Comprehensive Income –                     |   |
| Three Months Ended March 31, 2010 and 2009                                 | 3      |
|                                                                       |   |
| Consolidated Statement of Cash Flows –                               |   |
| Three Months Ended March 31, 2010 and 2009                                 | 4      |
|                                                                       |   |
| Consolidated Balance Sheet –                                         |   |
| March 31, 2010,  December 31, 2009 and  March 31, 2009 | 5      |
|                                                                       |   |
| Consolidated Statement of Changes In Equity –                        |   |
| Three Months Ended March 31, 2010 and 2009                                 | 7      |
|                                                                       |   |
| Central Hudson Gas & Electric Corporation                              |   |
| Statement of Income –                                                |   |
| Three Months Ended March 31, 2010 and 2009                                 | 8      |
|                                                                       |   |
| Statement of Comprehensive Income –                                  |   |
| Three Months Ended March 31, 2010 and 2009                                 | 9      |
|                                                                       |   |
| Statement of Cash Flows –                                            |   |
| Three Months Ended March 31, 2010 and 2009                                 | 10     |
|                                                                       |   |
| Balance Sheet –                                                      |   |
| March 31, 2010,  December 31, 2009 and  March 31, 2009 | 11     |
|                                                                       |   |
| Statement of Changes In Equity –                                     |   |
| Three Months Ended March 31, 2010 and 2009                                 | 13     |
|                                                                       |   |
| NOTES TO FINANCIAL STATEMENTS (UNAUDITED)                                  | 14     |

----

Table of Contents 

|   TABLE OF CONTENTS |
|--------------------------|
|                     |   | PAGE |
|                     |   |   |
| ITEM 2                   | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 61 |
|                     |   |   |
| ITEM 3                   | Quantitative and Qualitative Disclosure About Market Risk | 101 |
|                     |   |   |
| ITEM 4                   | Controls and Procedures | 101 |

| ITEM 1        | Legal Proceedings                                           | 102    |
|---------------|-------------------------------------------------------------|--------|
|          |                                                        |   |
| ITEM 1A       | Risk Factors                                                | 102    |
|          |                                                        |   |
| ITEM 2        | Unregistered Sales of Equity Securities and Use of Proceeds | 102    |
|          |                                                        |   |
| ITEM 6        | Exhibits                                                    | 102    |
|          |                                                        |   |
| SIGNATURES    | 103                                                         |
|          |                                                        |
| EXHIBIT INDEX | 104                                                         |

----

Table of Contents 

PART 

| CH ENERGY GROUP CONSOLIDATED STATEMENT OF INCOME (UNAUDITED)                               |   |
|--------------------------------------------------------------------------------------------|--------|
| (In Thousands, except per share amounts)                                                   |   |
|                                                                                       |   |   |   |   |   |   |
|                                                                                       |   | Three Months Ended March 31, |   |
|                                                                                       |   | 2010 |   |   | 2009 |   |
| Operating Revenues                                                                         |   |   |   |   |   |   |
| Electric                                                                                   |   | $ | 145,962 |   |   | $ | 156,753 |   |
| Natural gas                                                                                |   |   | 69,087 |   |   |   | 90,123 |   |
| Competitive business subsidiaries:                                                         |   |   |   |   |   |   |   |   |
| Petroleum products                                                                         |   |   | 80,160 |   |   |   | 68,517 |   |
| Other                                                                                      |   |   | 7,433 |   |   |   | 6,703 |   |
| Total Operating Revenues                                                                   |   |   | 302,642 |   |   |   | 322,096 |   |
| Operating Expenses                                                                         |   |   |   |   |   |   |   |   |
| Operation:                                                                                 |   |   |   |   |   |   |   |   |
| Purchased electricity and fuel used in electric generation                                 |   |   | 68,151 |   |   |   | 91,751 |   |
| Purchased natural gas                                                                      |   |   | 37,648 |   |   |   | 64,825 |   |
| Purchased petroleum                                                                        |   |   | 62,771 |   |   |   | 47,889 |   |
| Other expenses of operation - regulated activities                                         |   |   | 57,703 |   |   |   | 46,321 |   |
| Other expenses of operation - competitive business subsidiaries                            |   |   | 14,304 |   |   |   | 14,940 |   |
| Depreciation and amortization                                                              |   |   | 9,924 |   |   |   | 9,366 |   |
| Taxes, other than income tax                                                               |   |   | 10,853 |   |   |   | 10,105 |   |
| Total Operating Expenses                                                                   |   |   | 261,354 |   |   |   | 285,197 |   |
| Operating Income                                                                           |   |   | 41,288 |   |   |   | 36,899 |   |
| Other Income and Deductions                                                                |   |   |   |   |   |   |   |   |
| Income from unconsolidated affiliates                                                      |   |   | 234 |   |   |   | 230 |   |
| Interest on regulatory assets and investment income                                        |   |   | 1,127 |   |   |   | 1,116 |   |
| Write-off of note receivable                                                               |   |   | - |   |   |   | (1,299 | ) |
| Regulatory adjustments for interest costs                                                  |   |   | (142 | ) |   |   | (529 | ) |
| Business development costs                                                                 |   |   | (303 | ) |   |   | (481 | ) |
| Other - net                                                                                |   |   | (148 | ) |   |   | 301 |   |
| Total Other Income (Deductions)                                                            |   |   | 768 |   |   |   | (662 | ) |
| Interest Charges                                                                           |   |   |   |   |   |   |   |   |
| Interest on long-term debt                                                                 |   |   | 5,609 |   |   |   | 4,780 |   |
| Interest on regulatory liabilities and other interest                                      |   |   | 1,699 |   |   |   | 1,074 |   |
| Total Interest Charges                                                                     |   |   | 7,308 |   |   |   | 5,854 |   |
|                                                                                       |   |   |   |   |   |   |   |   |
| Income before income taxes, non-controlling interest and preferred dividends of subsidiary |   |   | 34,748 |   |   |   | 30,383 |   |
| Income Taxes                                                                               |   |   | 14,033 |   |   |   | 11,429 |   |
| Net Income from Continuing Operations                                                      |   |   | 20,715 |   |   |   | 18,954 |   |
|                                                                                       |   |   |   |   |   |   |   |   |
| Discontinued Operations                                                                    |   |   |   |   |   |   |   |   |
| Income from discontinued operations before tax                                             |   |   | - |   |   |   | 7,481 |   |
| Income tax expense from discontinued operations                                            |   |   | - |   |   |   | 3,104 |   |
| Net Income from Discontinued Operations                                                    |   |   | - |   |   |   | 4,377 |   |
|                                                                                       |   |   |   |   |   |   |   |   |
| Net Income                                                                                 |   |   | 20,715 |   |   |   | 23,331 |   |
|                                                                                       |   |   |   |   |   |   |   |   |
| Net income (loss) attributable to non-controlling interest:                                |   |   |   |   |   |   |   |   |
| Non-controlling interest in subsidiary                                                     |   |   | 35 |   |   |   | (32 | ) |
| Dividends declared on Preferred Stock of subsidiary                                        |   |   | 242 |   |   |   | 242 |   |
| Net income attributable to CH Energy Group                                                 |   |   | 20,438 |   |   |   | 23,121 |   |
|                                                                                       |   |   |   |   |   |   |   |   |
| Dividends declared on Common Stock                                                         |   |   | 8,539 |   |   |   | 8,524 |   |
| Change in Retained Earnings                                                                |   | $ | 11,899 |   |   | $ | 14,597 |   |

----

Table of Contents 

|                                                                                  |   | Three Months Ended March 31, |   |
|---------------------------------------------------------------------------------------|--------|------------------------------|--------|
|                                                                                  |   | 2010                         |   |   | 2009 |   |
| Common Stock:                                                                         |   |                         |   |   |   |   |
| Average shares outstanding                                                            |   |                         |   |   |   |   |
| Basic                                                                                 |   |                         | 15,778 |   |   |   | 15,771 |   |
| Diluted                                                                               |   |                         | 15,936 |   |   |   | 15,828 |   |
|                                                                                  |   |                         |   |   |   |   |   |   |
| Income from continuing operations attributable to CH Energy Group common shareholders |   |                         |   |   |   |   |   |   |
| Earnings per share                                                                    |   |                         |   |   |   |   |   |   |
| Basic                                                                                 |   | $                            | 1.30   |   |   | $ | 1.19 |   |
| Diluted                                                                               |   | $                            | 1.28   |   |   | $ | 1.18 |   |
|                                                                                  |   |                         |   |   |   |   |   |   |
| Income from discontinued operations                                                   |   |                         |   |   |   |   |   |   |
| Earnings per share                                                                    |   |                         |   |   |   |   |   |   |
| Basic                                                                                 |   | $                            | -      |   |   | $ | 0.28 |   |
| Diluted                                                                               |   | $                            | -      |   |   | $ | 0.28 |   |
|                                                                                  |   |                         |   |   |   |   |   |   |
| Amounts attributable to CH Energy Group common shareholders                           |   |                         |   |   |   |   |   |   |
| Earnings per share                                                                    |   |                         |   |   |   |   |   |   |
| Basic                                                                                 |   | $                            | 1.30   |   |   | $ | 1.47 |   |
| Diluted                                                                               |   | $                            | 1.28   |   |   | $ | 1.46 |   |
| Dividends Declared Per Share                                                          |   | $                            | 0.54   |   |   | $ | 0.54 |   |

----

Table of Contents 

ENERGY 

| (In Thousands)                                                                                              |   |
|-------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                        |   |   |   |   |   |   |
|                                                                                                        |   | Three Months Ended March 31, |   |
|                                                                                                        |   | 2010 |   |   | 2009 |   |
| Net Income                                                                                                  |   | $ | 20,715 |   |   | $ | 23,331 |   |
|                                                                                                        |   |   |   |   |   |   |   |   |
| Other Comprehensive Income:                                                                                 |   |   |   |   |   |   |   |   |
| Fair value of cash flow hedges:                                                                             |   |   |   |   |   |   |   |   |
| Unrealized gains - net of tax of ($4) and ($1)                                                              |   |   | 5 |   |   |   | 1 |   |
| Reclassification for gains realized in net income - net of tax of $24 and $0                                |   |   | (36 | ) |   |   | - |   |
| Net unrealized gains recorded from investments held by equity method investees - net of tax of ($71) and $0 |   |   | 107 |   |   |   | - |   |
|                                                                                                        |   |   |   |   |   |   |   |   |
| Other comprehensive income                                                                                  |   |   | 76 |   |   |   | 1 |   |
|                                                                                                        |   |   |   |   |   |   |   |   |
| Comprehensive Income                                                                                        |   |   | 20,791 |   |   |   | 23,332 |   |
|                                                                                                        |   |   |   |   |   |   |   |   |
| Comprehensive income attributable to non-controlling interest                                               |   |   | 277 |   |   |   | 210 |   |
|                                                                                                        |   |   |   |   |   |   |   |   |
| Comprehensive income attributable to CH Energy Group                                                        |   | $ |  20,514 |   |   | $ |  23,122 |   |

----

Table of Contents 

ENERGY 

| (In Thousands)                                                                              |   |
|---------------------------------------------------------------------------------------------|--------|
|                                                                                        |   |   |   |
|                                                                                        |   | Three Months Ended March 31, |   |
|                                                                                        |   | 2010 |   |   | 2009 |   |
| Operating Activities:                                                                       |   |   |   |   |   |   |
| Net income                                                                                  |   | $ | 20,715 |   |   | $ | 23,331 |   |
| Adjustments to reconcile net income to net cash (used in) provided by operating activities: |   |   |   |   |   |   |   |   |
| Depreciation                                                                                |   |   | 8,993 |   |   |   | 8,857 |   |
| Amortization                                                                                |   |   | 931 |   |   |   | 1,305 |   |
| Deferred income taxes - net                                                                 |   |   | 18,627 |   |   |   | (12,932 | ) |
| Bad debt expense                                                                            |   |   | 2,626 |   |   |   | 5,250 |   |
| Distributed (undistributed) equity in earnings of unconsolidated affiliates                 |   |   | (197 | ) |   |   | 370 |   |
| Pension expense                                                                             |   |   | 8,955 |   |   |   | 3,596 |   |
| Other post-employment benefits ("OPEB") expense                                             |   |   | 2,083 |   |   |   | 2,864 |   |
| Regulatory liability - rate moderation                                                      |   |   | (5,473 | ) |   |   | - |   |
| Revenue decoupling mechanism                                                                |   |   | (913 | ) |   |   | - |   |
| Regulatory asset amortization                                                               |   |   | 1,863 |   |   |   | 1,751 |   |
| Loss (gain) on sale of assets                                                               |   |   | 15 |   |   |   | (38 | ) |
| Changes in operating assets and liabilities - net of business acquisitions:                 |   |   |   |   |   |   |   |   |
| Accounts receivable, unbilled revenues and other receivables                                |   |   | (17,301 | ) |   |   | (18,241 | ) |
| Fuel, materials and supplies                                                                |   |   | 4,096 |   |   |   | 10,550 |   |
| Special deposits and prepayments                                                            |   |   | (2,439 | ) |   |   | (5,913 | ) |
| Prepaid income taxes                                                                        |   |   | (7,732 | ) |   |   | - |   |
| Accounts payable                                                                            |   |   | (6,111 | )  |   |   | (13,558 | ) |
| Accrued income taxes and interest                                                           |   |   | 431 |   |   |   | 25,324 |   |
| Customer advances                                                                           |   |   | (9,592 | ) |   |   | (12,860 | ) |
| Pension plan contribution                                                                   |   |   | (30,138 | ) |   |   | (2,632 | ) |
| OPEB contribution                                                                           |   |   | (525 | ) |   |   | - |   |
| Regulatory asset - storm deferral                                                           |   |   | (2,894 | ) |   |   | - |   |
| Regulatory asset - manufactured gas plant ("MGP") site remediation                          |   |   | (3,576 | ) |   |   | (877 | ) |
| Regulatory asset - PSC tax surcharge and general assessment                                 |   |   | (3,960 | ) |   |   | - |   |
| Deferred natural gas and electric costs                                                     |   |   | 7,993 |   |   |   | 31,728 |   |
| Other - net                                                                                 |   |   | (485 | ) |   |   | 3,165 |   |
| Net cash (used in) provided by operating activities                                         |   |   | (14,008 | ) |   |   | 51,040 |   |
|                                                                                        |   |   |   |   |   |   |   |   |
| Investing Activities:                                                                       |   |   |   |   |   |   |   |   |
| Proceeds from sale of assets                                                                |   |   | 33 |   |   |   | 160 |   |
| Additions to utility and other property and plant                                           |   |   | (12,560 | ) |   |   | (23,336 | ) |
| Other - net                                                                                 |   |   | (614 | ) |   |   | (5 | ) |
| Net cash used in investing activities                                                       |   |   | (13,141 | ) |   |   | (23,181 | ) |
|                                                                                        |   |   |   |   |   |   |   |   |
| Financing Activities:                                                                       |   |   |   |   |   |   |   |   |
| Redemption of long-term debt                                                                |   |   | - |   |   |   | (20,000 | ) |
| Borrowings of short-term debt - net                                                         |   |   | 30,000 |   |   |   | 9,500 |   |
| Dividends paid on Preferred Stock of subsidiary                                             |   |   | (242 | ) |   |   | (242 | ) |
| Dividends paid on Common Stock                                                              |   |   | (8,534 | ) |   |   | (8,523 | ) |
| Other - net                                                                                 |   |   | (21 | ) |   |   | (111 | ) |
| Net cash provided by (used in) financing activities                                         |   |   | 21,203 |   |   |   | (19,376 | ) |
|                                                                                        |   |   |   |   |   |   |   |   |
| Net Change in Cash and Cash Equivalents                                                     |   |   | (5,946 | ) |   |   | 8,483 |   |
| Cash and Cash Equivalents at Beginning of Period                                            |   |   | 73,436 |   |   |   | 19,825 |   |
| Cash and Cash Equivalents at End of Period                                                  |   | $ | 67,490 |   |   | $ | 28,308 |   |
|                                                                                        |   |   |   |   |   |   |   |   |
| Supplemental Disclosure of Cash Flow Information:                                           |   |   |   |   |   |   |   |   |
| Interest paid                                                                               |   | $ | 5,463 |   |   | $ | 6,434 |   |
| Federal and state taxes paid                                                                |   | $ | 14,374 |   |   | $ | 465 |   |
| Additions to plant included in liabilities                                                  |   | $ | 1,557 |   |   | $ | 3,812 |   |
|     Regulatory asset - storm deferral costs in liabilities                   |   | $ | 16,360 |   |   | $ | - |   |

----

Table of Contents 

CH 

| (In Thousands)                                                                                                                           |   |
|------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                     |   | March 31, |   |   | December 31, |   |   | March 31, |   |
|                                                                                                                                     |   | 2010 |   |   | 2009 |   |   | 2009 |   |
| ASSETS                                                                                                                                   |   |   |   |   |   |   |   |   |   |
| Utility Plant                                                                                                                            |   |   |   |   |   |   |   |   |   |
| Electric                                                                                                                                 |   | $ | 915,540 |   |   | $ | 908,807 |   |   | $ | 875,292 |   |
| Natural gas                                                                                                                              |   |   | 282,828 |   |   |   | 281,139 |   |   |   | 267,985 |   |
| Common                                                                                                                                   |   |   | 140,704 |   |   |   | 139,754 |   |   |   | 138,236 |   |
|                                                                                                                                     |   |   | 1,339,072 |   |   |   | 1,329,700 |   |   |   | 1,281,513 |   |
|                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Less: Accumulated depreciation                                                                                                           |   |   | 381,112 |   |   |   | 375,434 |   |   |   | 376,168 |   |
|                                                                                                                                     |   |   | 957,960 |   |   |   | 954,266 |   |   |   | 905,345 |   |
|                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Construction work in progress                                                                                                            |   |   | 58,227 |   |   |   | 58,120 |   |   |   | 54,833 |   |
| Net Utility Plant                                                                                                                        |   |   | 1,016,187 |   |   |   | 1,012,386 |   |   |   | 960,178 |   |
|                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-Utility Property & Plant                                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |
| Griffith non-utility property & plant                                                                                                |   |   | 28,173 |   |   |   | 27,951 |   |   |   | 42,460 |   |
| Other non-utility property & plant                                                                                                   |   |   | 36,512 |   |   |   | 37,654 |   |   |   | 15,736 |   |
|                                                                                                                                     |   |   | 64,685 |   |   |   | 65,605 |   |   |   | 58,196 |   |
|                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Less:  Accumulated depreciation - Griffith                                                                                     |   |   | 19,076 |   |   |   | 18,619 |   |   |   | 23,953 |   |
| Less:  Accumulated depreciation - other                                                                                        |   |   | 3,735 |   |   |   | 3,333 |   |   |   | 2,424 |   |
| Net Non-Utility Property & Plant                                                                                                     |   |   | 41,874 |   |   |   | 43,653 |   |   |   | 31,819 |   |
|                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Current Assets                                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash and cash equivalents                                                                                                                |   |   | 67,490 |   |   |   | 73,436 |   |   |   | 28,308 |   |
| Accounts receivable from customers - net of allowance for doubtful accounts of $7.7 million, $7.7 million and $8.8 million, respectively |   |   | 109,760 |   |   |   | 94,526 |   |   |   | 147,253 |   |
| Accrued unbilled utility revenues                                                                                                        |   |   | 13,163 |   |   |   | 14,159 |   |   |   | 11,863 |   |
| Other receivables                                                                                                                        |   |   | 7,049 |   |   |   | 6,612 |   |   |   | 7,402 |   |
| Fuel, materials and supplies                                                                                                             |   |   | 20,745 |   |   |   | 24,841 |   |   |   | 26,035 |   |
| Regulatory assets                                                                                                                        |   |   | 77,403 |   |   |   | 59,993 |   |   |   | 31,870 |   |
| Prepaid income tax                                                                                                                       |   |   | 9,595 |   |   |   | 1,863 |   |   |   | - |   |
| Fair value of derivative instruments                                                                                                     |   |   | 64 |   |   |   | 741 |   |   |   | 2 |   |
| Special deposits and prepayments                                                                                                         |   |   | 23,754 |   |   |   | 21,290 |   |   |   | 27,281 |   |
| Accumulated deferred income tax                                                                                                          |   |   | 2,158 |   |   |   | 300 |   |   |   | 20,185 |   |
| Total Current Assets                                                                                                                     |   |   | 331,181 |   |   |   | 297,761 |   |   |   | 300,199 |   |
|                                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Deferred Charges and Other Assets                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Regulatory assets - pension plan                                                                                                         |   |   | 159,509 |   |   |   | 168,705 |   |   |   | 194,880 |   |
| Regulatory assets - OPEB                                                                                                                 |   |   | - |   |   |   | - |   |   |   | 1,746 |   |
| Regulatory assets - other                                                                                                                |   |   | 119,700 |   |   |   | 83,691 |   |   |   | 119,005 |   |
| Goodwill                                                                                                                                 |   |   | 35,651 |   |   |   | 35,651 |   |   |   | 67,455 |   |
| Other intangible assets - net                                                                                                            |   |   | 14,246 |   |   |   | 14,813 |   |   |   | 35,090 |   |
| Unamortized debt expense                                                                                                                 |   |   | 5,017 |   |   |   | 5,094 |   |   |   | 5,026 |   |
| Investments in unconsolidated affiliates                                                                                                 |   |   | 9,057 |   |   |   | 8,698 |   |   |   | 9,277 |   |
| Other investments                                                                                                                        |   |   | 10,901 |   |   |   | 10,812 |   |   |   | 7,281 |   |
| Other                                                                                                                                    |   |   | 17,169 |   |   |   | 16,619 |   |   |   | 14,964 |   |
| Total Deferred Charges and Other Assets                                                                                                  |   |   | 371,250 |   |   |   | 344,083 |   |   |   | 454,724 |   |
| Total Assets                                                                                                                             |   | $ | 1,760,492 |   |   | $ | 1,697,883 |   |   | $ | 1,746,920 |   |

----

Table of Contents 

| (In Thousands)                                                                                                                                                              |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                        |   | March 31, |   |   | December 31, |   |   | March 31, |   |
|                                                                                                                                                                        |   | 2010 |   |   | 2009 |   |   | 2009 |   |
| CAPITALIZATION AND LIABILITIES                                                                                                                                              |   |   |   |   |   |   |   |   |   |
| Capitalization                                                                                                                                                              |   |   |   |   |   |   |   |   |   |
| CH Energy Group Common Shareholders' Equity                                                                                                                                 |   |   |   |   |   |   |   |   |   |
| Common Stock (30,000,000 shares authorized: $0.10 par value; 16,862,087 shares issued) 15,813,388 shares, 15,804,562 shares and 15,785,199 shares outstanding, respectively |   | $ | 1,686 |   |   | $ | 1,686 |   |   | $ | 1,686 |   |
| Paid-in capital                                                                                                                                                             |   |   | 350,178 |   |   |   | 350,367 |   |   |   | 350,797 |   |
| Retained earnings                                                                                                                                                           |   |   | 237,898 |   |   |   | 225,999 |   |   |   | 231,231 |   |
| Treasury stock - 1,048,699 shares, 1,057,525 shares and 1,076,088 shares, respectively                                                                                      |   |   | (44,064 | ) |   |   | (44,406 | ) |   |   | (45,271 | ) |
| Accumulated other comprehensive income                                                                                                                                      |   |   | 260 |   |   |   | 184 |   |   |   | 56 |   |
| Capital stock expense                                                                                                                                                       |   |   | (328 | ) |   |   | (328 | ) |   |   | (328 | ) |
| Total CH Energy Group Common Shareholders' Equity                                                                                                                           |   |   | 545,630 |   |   |   | 533,502 |   |   |   | 538,171 |   |
| Non-controlling interest in subsidiary                                                                                                                                      |   |   | 1,420 |   |   |   | 1,385 |   |   |   | 1,416 |   |
| Total Equity                                                                                                                                                                |   |   | 547,050 |   |   |   | 534,887 |   |   |   | 539,587 |   |
| Preferred Stock of subsidiary                                                                                                                                               |   |   | 21,027 |   |   |   | 21,027 |   |   |   | 21,027 |   |
| Long-term debt                                                                                                                                                              |   |   | 463,898 |   |   |   | 463,897 |   |   |   | 413,895 |   |
| Total Capitalization                                                                                                                                                        |   |   | 1,031,975 |   |   |   | 1,019,811 |   |   |   | 974,509 |   |
| Current Liabilities                                                                                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |
| Current maturities of long-term debt                                                                                                                                        |   |   | 24,000 |   |   |   | 24,000 |   |   |   | - |   |
| Notes payable                                                                                                                                                               |   |   | 30,000 |   |   |   | - |   |   |   | 45,000 |   |
| Accounts payable                                                                                                                                                            |   |   | 52,755 |   |   |   | 43,197 |   |   |   | 38,015 |   |
| Accrued interest                                                                                                                                                            |   |   | 6,498 |   |   |   | 6,067 |   |   |   | 4,650 |   |
| Dividends payable                                                                                                                                                           |   |   | 8,782 |   |   |   | 8,777 |   |   |   | 8,766 |   |
| Accrued vacation and payroll                                                                                                                                                |   |   | 7,315 |   |   |   | 6,192 |   |   |   | 7,060 |   |
| Customer advances                                                                                                                                                           |   |   | 12,858 |   |   |   | 22,450 |   |   |   | 17,582 |   |
| Customer deposits                                                                                                                                                           |   |   | 8,526 |   |   |   | 8,579 |   |   |   | 8,389 |   |
| Regulatory liabilities                                                                                                                                                      |   |   | 19,969 |   |   |   | 29,974 |   |   |   | 7,880 |   |
| Fair value of derivative instruments                                                                                                                                        |   |   | 36,789 |   |   |   | 13,837 |   |   |   | 20,516 |   |
| Accrued environmental remediation costs                                                                                                                                     |   |   | 12,606 |   |   |   | 17,399 |   |   |   | 5,780 |   |
| Accrued income taxes                                                                                                                                                        |   |   | - |   |   |   | - |   |   |   | 27,014 |   |
| Deferred revenues                                                                                                                                                           |   |   | 3,895 |   |   |   | 4,725 |   |   |   | 6,919 |   |
| Other                                                                                                                                                                       |   |   | 13,807 |   |   |   | 17,814 |   |   |   | 30,820 |   |
| Total Current Liabilities                                                                                                                                                   |   |   | 237,800 |   |   |   | 203,011 |   |   |   | 228,391 |   |
| Deferred Credits and Other Liabilities                                                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| Regulatory liabilities - OPEB                                                                                                                                               |   |   | 3,205 |   |   |   | 1,521 |   |   |   | - |   |
| Regulatory liabilities - other                                                                                                                                              |   |   | 107,897 |   |   |   | 91,457 |   |   |   | 131,284 |   |
| Operating reserves                                                                                                                                                          |   |   | 4,397 |   |   |   | 4,756 |   |   |   | 4,650 |   |
| Accrued environmental remediation costs                                                                                                                                     |   |   | 6,898 |   |   |   | 6,375 |   |   |   | 22,251 |   |
| Accrued OPEB costs                                                                                                                                                          |   |   | 46,778 |   |   |   | 46,241 |   |   |   | 53,809 |   |
| Accrued pension costs                                                                                                                                                       |   |   | 124,845 |   |   |   | 152,383 |   |   |   | 162,494 |   |
| Other                                                                                                                                                                       |   |   | 14,326 |   |   |   | 14,245 |   |   |   | 11,834 |   |
| Total Deferred Credits and Other Liabilities                                                                                                                                |   |   | 308,346 |   |   |   | 316,978 |   |   |   | 386,322 |   |
| Accumulated Deferred Income Tax                                                                                                                                             |   |   | 182,371 |   |   |   | 158,083 |   |   |   | 157,698 |   |
| Commitments and Contingencies                                                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Capitalization and Liabilities                                                                                                                                        |   | $ | 1,760,492 |   |   | $ | 1,697,883 |   |   | $ | 1,746,920 |   |

----

Table of Contents 

CH 

| (In Thousands, except share and per share amounts)               |   |
|------------------------------------------------------------------|--------|
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                             |   | CH Energy Group Common Shareholders |   |   |   |   |   |   |   |
|                                                             |   | Common Stock$0.10 par value; 30,000,000 shares authorized |   |   | Treasury Stock |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                             |   | Shares Issued |   |   | Amount |   |   | Shares Repurchased |   |   | Amount |   |   | Paid-In Capital |   |   | Capital Stock Expense |   |   | Retained Earnings |   |   | Accumulated Other Comprehensive Income / (Loss) |   |   | Non-controlling Interest |   |   | Total Equity |   |
| Balance at January 1, 2009                                       |   |   | 16,862,087 |   |   | $ | 1,686 |   |   |   | (1,079,004 | ) |   | $ | (45,386 | ) |   | $ | 350,873 |   |   | $ | (328 | ) |   | $ | 216,634 |   |   | $ | 55 |   |   | $ | 1,448 |   |   | $ | 524,982 |   |
| Comprehensive income:                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 23,121 |   |   |   |   |   |   |   | (32 | ) |   |   | 23,089 |   |
| Change in fair value:                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Derivative instruments                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 1 |   |   |   |   |   |   |   | 1 |   |
| Dividends declared on common stock ($2.16 per share)             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (8,524 | ) |   |   |   |   |   |   |   |   |   |   | (8,524 | ) |
| Treasury shares activity - net                                   |   |   |   |   |   |   |   |   |   |   | 2,116 |   |   |   | 115 |   |   |   | (76 | ) |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 39 |   |
| Balance at March 31, 2009                                        |   |   | 16,862,087 |   |   | $ | 1,686 |   |   |   | (1,076,888 | ) |   | $ | (45,271 | ) |   | $ | 350,797 |   |   | $ | (328 | ) |   | $ | 231,231 |   |   | $ | 56 |   |   | $ | 1,416 |   |   | $ | 539,587 |   |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance at January 1, 2010                                       |   |   | 16,862,087 |   |   | $ | 1,686 |   |   |   | (1,057,525 | ) |   | $ | (44,406 | ) |   | $ | 350,367 |   |   | $ | (328 | ) |   | $ | 225,999 |   |   | $ | 184 |   |   | $ | 1,385 |   |   | $ | 534,887 |   |
| Comprehensive income:                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 20,438 |   |   |   |   |   |   |   | 35 |   |   |   | 20,473 |   |
| Change in fair value:                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Derivative instruments                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 5 |   |   |   |   |   |   |   | 5 |   |
| Investments                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (36 | ) |   |   |   |   |   |   | (36 | ) |
| Reclassification adjustments for losses recognized in net income |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 107 |   |   |   |   |   |   |   | 107 |   |
| Dividends declared on common stock ($2.16 per share)             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (8,539 | ) |   |   |   |   |   |   |   |   |   |   | (8,539 | ) |
| Treasury shares activity - net                                   |   |   |   |   |   |   |   |   |   |   | 8,826 |   |   |   | 342 |   |   |   | (189 | ) |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 153 |   |
| Balance at March 31, 2010                                        |   |   | 16,862,087 |   |   | $ | 1,686 |   |   |   | (1,048,699 | ) |   | $ | (44,064 | ) |   | $ | 350,178 |   |   | $ | (328 | ) |   | $ | 237,898 |   |   | $ | 260 |   |   | $ | 1,420 |   |   | $ | 547,050 |   |

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Table of Contents 

CENTRAL 

|                                                       |   | Three Months Ended March 31, |    |
|------------------------------------------------------------|--------|------------------------------|---------|
|                                                       |   | 2010                         |    |   | 2009 |   |
| Operating Revenues                                         |   |                         |    |   |   |   |
| Electric                                                   |   | $                            | 145,962 |   |   | $ | 156,753 |   |
| Natural gas                                                |   |                         | 69,087  |   |   |   | 90,123 |   |
| Total Operating Revenues                                   |   |                         | 215,049 |   |   |   | 246,876 |   |
|                                                       |   |                         |    |   |   |   |   |   |
| Operating Expenses                                         |   |                         |    |   |   |   |   |   |
| Operation:                                                 |   |                         |    |   |   |   |   |   |
| Purchased electricity and fuel used in electric generation |   |                         | 66,874  |   |   |   | 90,523 |   |
| Purchased natural gas                                      |   |                         | 37,648  |   |   |   | 64,825 |   |
| Other expenses of operation                                |   |                         | 57,703  |   |   |   | 46,321 |   |
| Depreciation and amortization                              |   |                         | 8,414   |   |   |   | 8,009 |   |
| Taxes, other than income tax                               |   |                         | 10,651  |   |   |   | 9,967 |   |
| Total Operating Expenses                                   |   |                         | 181,290 |   |   |   | 219,645 |   |
|                                                       |   |                         |    |   |   |   |   |   |
| Operating Income                                           |   |                         | 33,759  |   |   |   | 27,231 |   |
|                                                       |   |                         |    |   |   |   |   |   |
| Other Income and Deductions                                |   |                         |    |   |   |   |   |   |
| Interest on regulatory assets and other interest income    |   |                         | 1,125   |   |   |   | 746 |   |
| Other - net                                                |   |                         | (181    | ) |   |   | 169 |   |
| Regulatory adjustments for interest costs                  |   |                         | (142    | ) |   |   | (529 | ) |
| Total Other Income                                         |   |                         | 802     |   |   |   | 386 |   |
|                                                       |   |                         |    |   |   |   |   |   |
| Interest Charges                                           |   |                         |    |   |   |   |   |   |
| Interest on other long-term debt                           |   |                         | 4,773   |   |   |   | 4,780 |   |
| Interest on regulatory liabilities and other interest      |   |                         | 1,663   |   |   |   | 1,438 |   |
| Total Interest Charges                                     |   |                         | 6,436   |   |   |   | 6,218 |   |
|                                                       |   |                         |    |   |   |   |   |   |
| Income Before Income Taxes                                 |   |                         | 28,125  |   |   |   | 21,399 |   |
|                                                       |   |                         |    |   |   |   |   |   |
| Income Taxes                                               |   |                         | 11,480  |   |   |   | 8,806 |   |
|                                                       |   |                         |    |   |   |   |   |   |
| Net Income                                                 |   |                         | 16,645  |   |   |   | 12,593 |   |
|                                                       |   |                         |    |   |   |   |   |   |
| Dividends Declared on Cumulative Preferred Stock           |   |                         | 242     |   |   |   | 242 |   |
|                                                       |   |                         |    |   |   |   |   |   |
| Income Available for Common Stock                          |   | $                            | 16,403  |   |   | $ | 12,351 |   |

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Table of Contents 

CENTRAL 

|                       |   | Three Months Ended March 31, |   |
|----------------------------|--------|------------------------------|--------|
|                       |   | 2010                         |   |   | 2009 |   |
| Net Income                 |   | $                            | 16,645 |   |   | $ | 12,593 |   |
| Other Comprehensive Income |   |                         | -      |   |   |   | - |   |
|                       |   |                         |   |   |   |   |   |   |
| Comprehensive Income       |   | $                            | 16,645 |   |   | $ | 12,593 |   |

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Table of Contents 

CENTRAL 

|                                                                                        |   | Three Months Ended March 31, |    |
|---------------------------------------------------------------------------------------------|--------|------------------------------|---------|
|                                                                                        |   | 2010                         |    |   | 2009 |   |
| Operating Activities:                                                                       |   |                         |    |   |   |   |
| Net income                                                                                  |   | $                            | 16,645  |   |   | $ | 12,593 |   |
| Adjustments to reconcile net income to net cash (used in) provided by operating activities: |   |                         |    |   |   |   |   |   |
| Depreciation                                                                                |   |                         | 8,050   |   |   |   | 7,743 |   |
| Amortization                                                                                |   |                         | 364     |   |   |   | 266 |   |
| Deferred income taxes - net                                                                 |   |                         | 17,532  |   |   |   | (13,344 | ) |
| Bad debt expense                                                                            |   |                         | 2,389   |   |   |   | 2,885 |   |
| Pension expense                                                                             |   |                         | 8,955   |   |   |   | 3,596 |   |
| OPEB expense                                                                                |   |                         | 2,083   |   |   |   | 2,864 |   |
| Regulatory liability - rate moderation                                                      |   |                         | (5,473  | ) |   |   | - |   |
| Revenue decoupling mechanism                                                                |   |                         | (913    | ) |   |   | - |   |
| Regulatory asset amortization                                                               |   |                         | 1,863   |   |   |   | 1,751 |   |
| Changes in operating assets and liabilities - net:                                          |   |                         |    |   |   |   |   |   |
| Accounts receivable, unbilled revenues and other receivables                                |   |                         | (10,418 | ) |   |   | (17,834 | ) |
| Fuel, materials and supplies                                                                |   |                         | 3,977   |   |   |   | 11,491 |   |
| Special deposits and prepayments                                                            |   |                         | (1,468  | ) |   |   | (4,273 | ) |
| Prepaid income taxes                                                                        |   |                         | (6,188  | ) |   |   | - |   |
| Accounts payable                                                                            |   |                         | (3,012  | )  |   |   | (12,178 | ) |
| Accrued income taxes and interest                                                           |   |                         | (405    | ) |   |   | 21,475 |   |
| Customer advances                                                                           |   |                         | (6,454  | ) |   |   | (5,419 | ) |
| Pension plan contribution                                                                   |   |                         | (30,138 | ) |   |   | (2,632 | ) |
| OPEB contribution                                                                           |   |                         | (525    | ) |   |   | - |   |
| Regulatory asset - storm deferral                                                           |   |                         | (2,894  | ) |   |   | - |   |
| Regulatory asset - MGP site remediation                                                     |   |                         | (3,576  | ) |   |   | (877 | ) |
| Regulatory asset - PSC tax surcharge and general assessment                                 |   |                         | (3,960  | ) |   |   | - |   |
| Deferred natural gas and electric costs                                                     |   |                         | 7,993   |   |   |   | 31,728 |   |
| Other - net                                                                                 |   |                         | 4,062   |   |   |   | 2,382 |   |
| Net cash (used in) provided by operating activities                                         |   |                         | (1,511  | ) |   |   | 42,217 |   |
|                                                                                        |   |                         |    |   |   |   |   |   |
| Investing Activities:                                                                       |   |                         |    |   |   |   |   |   |
| Additions to utility plant                                                                  |   |                         | (12,760 | ) |   |   | (22,699 | ) |
| Other - net                                                                                 |   |                         | (627    | ) |   |   | (79 | ) |
| Net cash used in investing activities                                                       |   |                         | (13,387 | ) |   |   | (22,778 | ) |
|                                                                                        |   |                         |    |   |   |   |   |   |
| Financing Activities:                                                                       |   |                         |    |   |   |   |   |   |
| Redemption of long-term debt                                                                |   |                         | -       |   |   |   | (20,000 | ) |
| Borrowings of short-term debt - net                                                         |   |                         | 30,000  |   |   |   | 14,500 |   |
| Dividends paid on cumulative Preferred Stock                                                |   |                         | (242    | ) |   |   | (242 | ) |
| Other - net                                                                                 |   |                         | (21     | ) |   |   | (112 | ) |
| Net cash provided by (used in) financing activities                                         |   |                         | 29,737  |   |   |   | (5,854 | ) |
|                                                                                        |   |                         |    |   |   |   |   |   |
| Net Change in Cash and Cash Equivalents                                                     |   |                         | 14,839  |   |   |   | 13,585 |   |
| Cash and Cash Equivalents - Beginning of Period                                             |   |                         | 4,784   |   |   |   | 2,455 |   |
| Cash and Cash Equivalents - End of Period                                                   |   | $                            | 19,623  |   |   | $ | 16,040 |   |
|                                                                                        |   |                         |    |   |   |   |   |   |
| Supplemental Disclosure of Cash Flow Information:                                           |   |                         |    |   |   |   |   |   |
| Interest paid                                                                               |   | $                            | 5,432   |   |   | $ | 6,365 |   |
| Federal and state taxes paid                                                                |   | $                            | 8,910   |   |   | $ | - |   |
| Additions to plant included in liabilities                                                  |   | $                            | 1,529   |   |   | $ | 3,812 |   |
| Regulatory asset - storm deferral costs in liabilities                                      |   | $                            | 16,360  |   |   | $ | - |   |

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Table of Contents 

CENTRAL 

|                                                                                                                                     |   | March 31, |      |   | December 31, |   |      | March 31, |   |
|------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------|-----------|--------|--------------|--------|-----------|-----------|--------|
|                                                                                                                                     |   | 2010      |      |   | 2009         |   |      | 2009      |   |
| ASSETS                                                                                                                                   |   |      |      |   |         |   |      |      |   |
| Utility Plant                                                                                                                            |   |      |      |   |         |   |      |      |   |
| Electric                                                                                                                                 |   | $         | 915,540   |   |         | $      | 908,807   |      |   | $ | 875,292 |   |
| Natural gas                                                                                                                              |   |      | 282,828   |   |         |   | 281,139   |      |   |   | 267,985 |   |
| Common                                                                                                                                   |   |      | 140,704   |   |         |   | 139,754   |      |   |   | 138,236 |   |
|                                                                                                                                     |   |      | 1,339,072 |   |         |   | 1,329,700 |      |   |   | 1,281,513 |   |
|                                                                                                                                     |   |      |      |   |         |   |      |      |   |   |   |   |
| Less: Accumulated depreciation                                                                                                           |   |      | 381,112   |   |         |   | 375,434   |      |   |   | 376,168 |   |
|                                                                                                                                     |   |      | 957,960   |   |         |   | 954,266   |      |   |   | 905,345 |   |
|                                                                                                                                     |   |      |      |   |         |   |      |      |   |   |   |   |
| Construction work in progress                                                                                                            |   |      | 58,227    |   |         |   | 58,120    |      |   |   | 54,833 |   |
| Net Utility Plant                                                                                                                        |   |      | 1,016,187 |   |         |   | 1,012,386 |      |   |   | 960,178 |   |
|                                                                                                                                     |   |      |      |   |         |   |      |      |   |   |   |   |
| Non-Utility Property and Plant                                                                                                           |   |      | 681       |   |         |   | 681       |      |   |   | 438 |   |
| Less: Accumulated depreciation                                                                                                           |   |      | 33        |   |         |   | 33        |      |   |   | 33 |   |
| Net Non-Utility Property and Plant                                                                                                       |   |      | 648       |   |         |   | 648       |      |   |   | 405 |   |
|                                                                                                                                     |   |      |      |   |         |   |      |      |   |   |   |   |
| Current Assets                                                                                                                           |   |      |      |   |         |   |      |      |   |   |   |   |
| Cash and cash equivalents                                                                                                                |   |      | 19,623    |   |         |   | 4,784     |      |   |   | 16,040 |   |
| Accounts receivable from customers - net of allowance for doubtful accounts of $5.9 million, $5.8 million and $4.5 million, respectively |   |      | 77,113    |   |         |   | 68,328    |      |   |   | 102,058 |   |
| Accrued unbilled utility revenues                                                                                                        |   |      | 13,163    |   |         |   | 14,159    |      |   |   | 11,863 |   |
| Other receivables                                                                                                                        |   |      | 3,265     |   |         |   | 3,025     |      |   |   | 2,414 |   |
| Fuel, materials and supplies - at average cost                                                                                           |   |      | 17,328    |   |         |   | 21,305    |      |   |   | 19,624 |   |
| Regulatory assets                                                                                                                        |   |      | 77,403    |   |         |   | 59,993    |      |   |   | 31,870 |   |
| Prepaid income tax                                                                                                                       |   |      | 16,894    |   |         |   | 10,706    |      |   |   | - |   |
| Fair value of derivative instruments                                                                                                     |   |      | -         |   |         |   | 393       |      |   |   | - |   |
| Special deposits and prepayments                                                                                                         |   |      | 19,797    |   |         |   | 18,304    |      |   |   | 22,870 |   |
| Accumulated deferred income tax                                                                                                          |   |      | -         |   |         |   | -         |      |   |   | 17,350 |   |
| Total Current Assets                                                                                                                     |   |      | 244,586   |   |         |   | 200,997   |      |   |   | 224,089 |   |
|                                                                                                                                     |   |      |      |   |         |   |      |      |   |   |   |   |
| Deferred Charges and Other Assets                                                                                                        |   |      |      |   |         |   |      |      |   |   |   |   |
| Regulatory assets - pension plan                                                                                                         |   |      | 159,509   |   |         |   | 168,705   |      |   |   | 194,880 |   |
| Regulatory assets - OPEB                                                                                                                 |   |      | -         |   |         |   | -         |      |   |   | 1,746 |   |
| Regulatory assets - other                                                                                                                |   |      | 119,700   |   |         |   | 83,691    |      |   |   | 119,005 |   |
| Unamortized debt expense                                                                                                                 |   |      | 5,017     |   |         |   | 5,094     |      |   |   | 5,026 |   |
| Other investments                                                                                                                        |   |      | 10,622    |   |         |   | 10,543    |      |   |   | 7,173 |   |
| Other                                                                                                                                    |   |      | 4,064     |   |         |   | 3,536     |      |   |   | 2,398 |   |
| Total Deferred Charges and Other Assets                                                                                                  |   |      | 298,912   |   |         |   | 271,569   |      |   |   | 330,228 |   |
|                                                                                                                                     |   |      |      |   |         |   |      |      |   |   |   |   |
| Total Assets                                                                                                                             |   | $         | 1,560,333 |   |         | $      | 1,485,600 |      |   | $ | 1,514,900 |   |

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|                                                                                              |   | March 31, |      |   | December 31, |   |      | March 31, |   |
|---------------------------------------------------------------------------------------------------|--------|-----------|-----------|--------|--------------|--------|-----------|-----------|--------|
|                                                                                              |   | 2010      |      |   | 2009         |   |      | 2009      |   |
| CAPITALIZATION AND LIABILITIES                                                                    |   |      |      |   |         |   |      |      |   |
|                                                                                              |   |      |      |   |         |   |      |      |   |
| Capitalization                                                                                    |   |      |      |   |         |   |      |      |   |
| Common Stock, 30,000,000 shares authorized;16,862,087 shares issued and outstanding, $5 par value |   | $         | 84,311    |   |         | $      | 84,311    |      |   | $ | 84,311 |   |
| Paid-in capital                                                                                   |   |      | 199,980   |   |         |   | 199,980   |      |   |   | 174,980 |   |
| Retained earnings                                                                                 |   |      | 167,153   |   |         |   | 150,750   |      |   |   | 131,295 |   |
| Capital stock expense                                                                             |   |      | (4,961    | )      |         |   | (4,961    | )         |   |   | (4,961 | ) |
| Total Equity                                                                                      |   |      | 446,483   |   |         |   | 430,080   |      |   |   | 385,625 |   |
|                                                                                              |   |      |      |   |         |   |      |      |   |   |   |   |
| Cumulative Preferred Stock not subject to mandatory redemption                                    |   |      | 21,027    |   |         |   | 21,027    |      |   |   | 21,027 |   |
|                                                                                              |   |      |      |   |         |   |      |      |   |   |   |   |
| Long-term debt                                                                                    |   |      | 413,898   |   |         |   | 413,897   |      |   |   | 413,895 |   |
| Total Capitalization                                                                              |   |      | 881,408   |   |         |   | 865,004   |      |   |   | 820,547 |   |
|                                                                                              |   |      |      |   |         |   |      |      |   |   |   |   |
| Current Liabilities                                                                               |   |      |      |   |         |   |      |      |   |   |   |   |
| Current maturities of long-term debt                                                              |   |      | 24,000    |   |         |   | 24,000    |      |   |   | - |   |
| Notes payable                                                                                     |   |      | 30,000    |   |         |   | -         |      |   |   | 40,000 |   |
| Accounts payable                                                                                  |   |      | 45,314    |   |         |   | 32,069    |      |   |   | 29,484 |   |
| Accrued interest                                                                                  |   |      | 5,232     |   |         |   | 5,637     |      |   |   | 4,644 |   |
| Dividends payable - Preferred Stock                                                               |   |      | 242       |   |         |   | 242       |      |   |   | 242 |   |
| Accrued vacation and payroll                                                                      |   |      | 5,751     |   |         |   | 5,046     |      |   |   | 4,672 |   |
| Customer advances                                                                                 |   |      | 8,548     |   |         |   | 15,002    |      |   |   | 4,155 |   |
| Customer deposits                                                                                 |   |      | 8,451     |   |         |   | 8,504     |      |   |   | 8,269 |   |
| Regulatory liabilities                                                                            |   |      | 19,969    |   |         |   | 29,974    |      |   |   | 7,880 |   |
| Fair value of derivative instruments                                                              |   |      | 36,739    |   |         |   | 13,553    |      |   |   | 20,516 |   |
| Accrued environmental remediation costs                                                           |   |      | 12,334    |   |         |   | 16,982    |      |   |   | 5,609 |   |
| Accrued income taxes                                                                              |   |      | -         |   |         |   | -         |      |   |   | 22,812 |   |
| Accumulated deferred income tax                                                                   |   |      | 156       |   |         |   | 1,883     |      |   |   | - |   |
| Other                                                                                             |   |      | 8,977     |   |         |   | 8,761     |      |   |   | 21,328 |   |
| Total Current Liabilities                                                                         |   |      | 205,713   |   |         |   | 161,653   |      |   |   | 169,611 |   |
|                                                                                              |   |      |      |   |         |   |      |      |   |   |   |   |
| Deferred Credits and Other Liabilities                                                            |   |      |      |   |         |   |      |      |   |   |   |   |
| Regulatory liabilities - OPEB                                                                     |   |      | 3,205     |   |         |   | 1,521     |      |   |   | - |   |
| Regulatory liabilities - other                                                                    |   |      | 107,897   |   |         |   | 91,457    |      |   |   | 131,284 |   |
| Operating reserves                                                                                |   |      | 3,164     |   |         |   | 3,503     |      |   |   | 3,594 |   |
| Accrued environmental remediation costs                                                           |   |      | 3,652     |   |         |   | 3,248     |      |   |   | 21,084 |   |
| Accrued OPEB costs                                                                                |   |      | 46,778    |   |         |   | 46,241    |      |   |   | 53,809 |   |
| Accrued pension costs                                                                             |   |      | 124,845   |   |         |   | 152,383   |      |   |   | 162,494 |   |
| Other                                                                                             |   |      | 13,566    |   |         |   | 13,495    |      |   |   | 11,243 |   |
| Total Deferred Credits and Other Liabilities                                                      |   |      | 303,107   |   |         |   | 311,848   |      |   |   | 383,508 |   |
|                                                                                              |   |      |      |   |         |   |      |      |   |   |   |   |
| Accumulated Deferred Income Tax                                                                   |   |      | 170,105   |   |         |   | 147,095   |      |   |   | 141,234 |   |
|                                                                                              |   |      |      |   |         |   |      |      |   |   |   |   |
| Commitments and Contingencies                                                                     |   |      |      |   |         |   |      |      |   |   |   |   |
|                                                                                              |   |      |      |   |         |   |      |      |   |   |   |   |
| Total Capitalization and Liabilities                                                              |   | $         | 1,560,333 |   |         | $      | 1,485,600 |      |   | $ | 1,514,900 |   |

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| CENTRAL HUDSON STATEMENT OF EQUITY (UNAUDITED)     |
|----------------------------------------------------|
| (In Thousands, except share and per share amounts) |

|                          |   | Central Hudson Common Shareholders                       |       |   |           |   |
|-------------------------------|--------|----------------------------------------------------------|------------|--------|----------------|--------|
|                          |   | Common Stock$5.00 par value;30,000,000 shares authorized |       |   | Treasury Stock |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                          |   | Shares Issued                                            |       |   | Amount         |   |   | Shares Repurchased |   |   | Amount |   |   | Paid-In Capital |   |   | Capital Stock Expense |   |   | Retained Earnings |   |   | Accumulated Other Comprehensive Income / (Loss) |   |   | Total Equity |   |
| Balance at January 1, 2009    |   |                                                     | 16,862,087 |   |           | $      | 84,311 |   |   |   | - |   |   | $ | - |   |   | $ | 174,980 |   |   | $ | (4,961 | ) |   | $ | 118,944 |   |   | $ | - |   |   | $ | 373,274 |   |
| Net income                    |   |                                                     |       |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 12,593 |   |   |   |   |   |   |   | 12,593 |   |
| Dividends declared:           |   |                                                     |       |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| On cumulative Preferred Stock |   |                                                     |       |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (242 | ) |   |   |   |   |   |   |  (242 | )  |
| Balance at March 31, 2009     |   |                                                     | 16,862,087 |   |           | $      | 84,311 |   |   |   | - |   |   | $ | - |   |   | $ | 174,980 |   |   | $ | (4,961 | ) |   | $ | 131,295 |   |   | $ | - |   |   | $ | 385,625 |   |
|                          |   |                                                     |       |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance at January 1, 2010    |   |                                                     | 16,862,087 |   |           | $      | 84,311 |   |   |   | - |   |   | $ | - |   |   | $ | 199,980 |   |   | $ | (4,961 | ) |   | $ | 150,750 |   |   | $ | - |   |   | $ | 430,080 |   |
| Net income                    |   |                                                     |       |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 16,645 |   |   |   |   |   |   |   | 16,645 |   |
| Dividends declared:           |   |                                                     |       |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| On cumulative Preferred Stock |   |                                                     |       |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (242 | ) |   |   |   |   |   |   | (242 | ) |
| Balance at March 31, 2010     |   |                                                     | 16,862,087 |   |           | $      | 84,311 |   |   |   | - |   |   | $ | - |   |   | $ | 199,980 |   |   | $ | (4,961 | ) |   | $ | 167,153 |   |   | $ | - |   |   | $ | 446,483 |   |

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NOTES 

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| Company                | Valuation Method      |
|------------------------|-----------------------|
| Central Hudson         | Average cost          |
| Griffith and CH-Auburn | FIFO                  |
| Lyonsdale              | Weighted average cost |

| CH Energy Group                  |   |      |   |   |         |   |   |      |   |
|----------------------------------|--------|-----------|--------|--------|--------------|--------|--------|-----------|--------|
|                             |   | March 31, |   |   | December 31, |   |   | March 31, |   |
|                             |   | 2010      |   |   | 2009         |   |   | 2009      |   |
| Natural gas                      |   | $         | 7,414  |   |         | $      | 12,020 |      |   | $ | 11,016 |   |
| Petroleum products and propane   |   |      | 2,111  |   |         |   | 2,583  |      |   |   | 2,696 |   |
| Fuel used in electric generation |   |      | 798    |   |         |   | 480    |      |   |   | 720 |   |
| Materials and supplies           |   |      | 10,422 |   |         |   | 9,758  |      |   |   | 11,603 |   |
| Total                            |   | $         | 20,745 |   |         | $      | 24,841 |      |   | $ | 26,035 |   |

| Central Hudson                   |   |                   |   |   |                   |   |
|----------------------------------|--------|------------------------|--------|--------|------------------------|--------|
|                             |   | March 31,              |   |   | December 31,           |   |   | March 31, |   |
|                             |   | 2010    |   |   | 2009    |   |   | 2009    |   |
| Natural gas                      |   | $                      | 7,414  |   |                   | $      | 12,020 |   |   | $ | 11,016 |   |
| Petroleum products and propane   |   |                   | 525    |   |                   |   | 547 |   |   |   | 531 |   |
| Fuel used in electric generation |   |                   | 293    |   |                   |   | 308 |   |   |   | 334 |   |
| Materials and supplies           |   |                   | 9,096  |   |                   |   | 8,430 |   |   |   | 7,743 |   |
| Total                            |   | $                      | 17,328 |   |                   | $      | 21,305 |   |   | $ | 19,624 |   |

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|                                              |   | March 31, |    |   | December 31, |   |    | March 31,       |   |
|---------------------------------------------------|--------|-----------|---------|--------|--------------|--------|---------|-----------------|--------|
|                                              |   | 2010      |    |   | 2009         |   |    | 2009            |   |
| Regulatory Assets (Debits):                       |   |      |    |   |         |   |    |            |   |
| Current:                                          |   |      |    |   |         |   |    |            |   |
| Deferred purchased electric and natural gas costs |   | $         | 19,617  |   |         | $      | 27,610  |            |   | $ | 10,203 |   |
| Deferred unrealized losses on derivatives         |   |      | 36,739  |   |         |   | 13,161  |            |   |   | 20,515 |   |
| PSC tax surcharge                                 |   |      | 15,297  |   |         |   | 11,186  |            |   |   | - |   |
| Revenue decoupling mechanism ("RDM")              |   |      | 4,698   |   |         |   | 5,121   |            |   |   | - |   |
| Residual natural gas deferred balances            |   |      | 962     |   |         |   | 2,825   |            |   |   | 1,061 |   |
| Other                                             |   |      | 90      |   |         |   | 90      |            |   |   | 91 |   |
|                                              |   |      | 77,403  |   |         |   | 59,993  |            |   |   | 31,870 |   |
| Long-term:                                        |   |      |    |   |         |   |    |            |   |   |   |   |
| Deferred pension costs                            |   |      | 159,509 |   |         |   | 168,705 | (1)        |   |   | 194,880 |   |
| Carrying charges - pension reserve                |   |      | 2,160   |   |         |   | 1,297   | (1)        |   |   | 11,622 |   |
| Deferred costs - MGP site remediation             |   |      | 16,790  |   |         |   | 20,530  | (1)             |   |   | 31,854 |   |
| Deferred OPEB costs                               |   |      | -       |   |         |   | -       | (1)        |   |   | 1,746 |   |
| Deferred debt expense on re-acquired debt         |   |      | 4,748   |   |         |   | 4,874   |            |   |   | 5,294 |   |
| Deferred Medicare subsidy taxes                   |   |      | 6,314   |   |         |   | -       |            |   |   | - |   |
| Residual natural gas deferred balances            |   |      | 17,631  |   |         |   | 17,583  |            |   |   | 22,903 |   |
| Income taxes recoverable through future rates     |   |      | 41,781  |   |         |   | 28,658  |            |   |   | 33,273 |   |
| Uncollectible deferral and carrying charges       |   |      | 3,369   |   |         |   | 3,360   |            |   |   | - |   |
| Storm costs                                       |   |      | 19,253  |   |         |   | -       | (1)   |   |   | 3,375 |   |
| Other                                             |   |      | 7,654   |   |         |   | 7,389   | (1)        |   |   | 10,684 |   |
|                                              |   |      | 279,209 |   |         |   | 252,396 |            |   |   | 315,631 |   |
| Total Regulatory Assets                           |   | $         | 356,612 |   |         | $      | 312,389 |            |   | $ | 347,501 |   |
|                                              |   |      |    |   |         |   |    |            |   |   |   |   |
| Regulatory Liabilities (Credits):                 |   |      |    |   |         |   |    |            |   |   |   |   |
| Current:                                          |   |      |    |   |         |   |    |            |   |   |   |   |
| Excess electric depreciation reserve              |   | $         | 10,114  |   |         | $      | 19,296  |            |   | $ | - |   |
| Income taxes refundable through future rates      |   |      | 6,037   |   |         |   | 5,456   |            |   |   | 4,565 |   |
| Deferred unbilled gas revenues                    |   |      | 3,818   |   |         |   | 5,222   |            |   |   | 3,315 |   |
|                                              |   |      | 19,969  |   |         |   | 29,974  |            |   |   | 7,880 |   |
| Long-term:                                        |   |      |    |   |         |   |    |            |   |   |   |   |
| Customer benefit fund                             |   |      | 3,740   |   |         |   | 3,792   |            |   |   | 4,260 |   |
| Deferred cost of removal                          |   |      | 46,480  |   |         |   | 46,955  |            |   |   | 48,242 |   |
| Excess electric depreciation reserve              |   |      | 13,583  |   |         |   | 12,965  |            |   |   | 32,309 |   |
| Income taxes refundable through future rates      |   |      | 33,716  |   |         |   | 18,611  |            |   |   | 22,028 |   |
| Deferred OPEB costs                               |   |      | 3,205   |   |         |   | 1,521   | (1)        |   |   | - |   |
| Carrying charges - OPEB reserve                   |   |      | 2,239   |   |         |   | 1,469   | (1)        |   |   | 6,476 |   |
| Other                                             |   |      | 8,139   |   |         |   | 7,665   | (1)        |   |   | 17,969 |   |
|                                              |   |      | 111,102 |   |         |   | 92,978  |            |   |   | 131,284 |   |
| Total Regulatory Liabilities                      |   | $         | 131,071 |   |         | $      | 122,952 |            |   | $ | 139,164 |   |
|                                              |   |      |    |   |         |   |    |            |   |   |   |   |
| Net Regulatory Assets                             |   | $         | 225,541 |   |         | $      | 189,437 |            |   | $ | 208,337 |   |

| (1) | Effective July 1, 2009, Central Hudson offset all or a portion of certain regulatory assets and liabilities, including full offset of the June 30, 2009 balances for Carrying charges - OPEB reserve, Carrying charges - pension reserve and December 2008 Storm costs in accordance with the PSC prescribed 2009 Rate Order ("2009 Rate Order"). |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | · | Electric delivery increase of $39.6 million moderated by a $20.0 million customer bill credit from the excess depreciation reserve. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Natural gas delivery increase of $13.8 million. |
|--------|--------|-------------------------------------------------|

|   | · | Delivery rates based on a return on common equity of 10.0%. |
|--------|--------|-------------------------------------------------------------|

|   |   |
|--------|--------|

|   | · | Common equity layer of 47% of permanent capital. |
|--------|--------|--------------------------------------------------|

|   | · | RDM for both electric and gas delivery service. |
|--------|--------|-------------------------------------------------|

|   | · | Continued funding for the full recovery of the Company’s current pension and OPEB costs and continues deferral authorization for pensions, OPEBs, research and development costs, stray voltage testing, MGP site remediation expenditures and electric and gas supply cost recovery and variable rate debt. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | New deferral authorizations for: fixed debt costs; the costs to bring electric lines into compliance with current height above ground requirements; and the New York State Temporary Assessment. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Continuation, with minor modifications, of the Company’s Electric Reliability, Gas Safety and Customer Service performance mechanisms. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Recovery through offset against a deferred liability account (non-cash) of the $3.3 million in incremental storm restoration costs incurred from the December 2008 ice storm. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Impact  |   | Category                                            |   | AccountingReference |   | Title                                                           |   | Issued Date |   | Effective Date |
|---------|--------|-----------------------------------------------------|--------|---------------------|--------|-----------------------------------------------------------------|--------|-------------|--------|----------------|
| 1  |   | Fair Value Measurements and Disclosures (Topic 820) |   | ASU No. 2010-06     |   | Improving Disclosures about Fair Value Measurements             |   | Jan-10      |   | Jan-10Jan-11   |
| 2  |   | Variable Interest Entities                          |   | SFAS No. 167        |   | Amendments to ASC 810-10-25-38                                  |   | Jun-09      |   | Jan-10         |
| 2  |   | Subsequent Events (Topic 820)                       |   | ASU No. 2010-09     |   | Amendments to Certain Recognition and Disclosure Requirements   |   | Feb-10      |   | Feb-10         |
| 2  |   | Compensation - Stock Compensation (Topic 718)       |   | ASU No. 2010-05     |   | Escrowed Share Arrangements and the Presumption of Compensation |   | Jan-10      |   | Jan-10         |
| 3  |   | Derivatives and Hedging (Topic 815)                 |   | ASU No. 2010-11     |   | Scope Exception Related to Embedded Credit Derivatives          |   | Mar-10      |   | Jul-10         |

| (1) | In the following paragraph, the impact is separately disclosed as of standard effective date. |
|-----|-----------------------------------------------------------------------------------------------|

| (2) | No current impact on the financial condition, results of operations and cash flows of CH Energy Group and its subsidiaries when adopted on the effective date noted. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | No anticipated impact on the financial condition, results of operations and cash flows of CH Energy Group and its subsidiaries upon future adoption. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                        |   | Three Months Ended March 31, |   |
|---------------------------------------------|--------|------------------------------|--------|
|                                        |   | 2010                         |   |   | 2009 |   |
| Net income attributable to CH Energy Group  |   | $                            | 20,438 |   |   | $ | 23,121 |   |
| Preferred Stock dividends of Central Hudson |   |                         | 242    |   |   |   | 242 |   |
| Non-controlling interest in subsidiary      |   |                         | 35     |   |   |   | (32 | ) |
| Federal income tax                          |   |                         | (3,868 | ) |   |   | 23,801 |   |
| State income tax                            |   |                         | (725   | ) |   |   | 4,079 |   |
| Deferred federal income tax                 |   |                         | 16,298 |   |   |   | (11,804 | ) |
| Deferred state income tax                   |   |                         | 2,328  |   |   |   | (1,543 | ) |
| Income before taxes                         |   | $                            | 34,748 |   |   | $ | 37,864 |   |
|                                        |   |                         |   |   |   |   |   |   |
| Computed federal tax at 35% statutory rate  |   | $                            | 12,162 |   |   | $ | 13,252 |   |
| State income tax net of federal tax benefit |   |                         | 1,774  |   |   |   | 1,086 |   |
| Depreciation flow-through                   |   |                         | 666    |   |   |   | 772 |   |
| Cost of Removal                             |   |                         | (366   | ) |   |   | (312 | ) |
| Production tax credits                      |   |                         | (61    | ) |   |   | (323 | ) |
| Other                                       |   |                         | (142   | ) |   |   | 58 |   |
| Total income tax                            |   | $                            | 14,033 |   |   | $ | 14,533 |   |
|                                        |   |                         |   |   |   |   |   |   |
| Effective tax rate - federal                |   |                         | 35.8   | % |   |   | 31.7 | % |
| Effective tax rate - state                  |   |                         | 4.6    | % |   |   | 6.7 | % |
| Effective tax rate - combined               |   |                         | 40.4   | % |   |   | 38.4 | % |

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|                                        |   | Three Months Ended March 31, |   |
|---------------------------------------------|--------|------------------------------|--------|
|                                        |   | 2010                         |   |   | 2009 |   |
| Net income                                  |   | $                            | 16,645 |   |   | $ | 12,593 |   |
| Federal income tax                          |   |                         | (5,101 | ) |   |   | 18,247 |   |
| State income tax                            |   |                         | (950   | ) |   |   | 3,902 |   |
| Deferred federal income tax                 |   |                         | 15,441 |   |   |   | (11,801 | ) |
| Deferred state income tax                   |   |                         | 2,090  |   |   |   | (1,542 | ) |
| Income before taxes                         |   | $                            | 28,125 |   |   | $ | 21,399 |   |
|                                        |   |                         |   |   |   |   |   |   |
| Computed federal tax at 35% statutory rate  |   | $                            | 9,844  |   |   | $ | 7,490 |   |
| State income tax net of federal tax benefit |   |                         | 1,472  |   |   |   | 994 |   |
| Depreciation flow-through                   |   |                         | 666    |   |   |   | 772 |   |
| Cost of Removal                             |   |                         | (366   | ) |   |   | (312 | ) |
| Other                                       |   |                         | (136   | ) |   |   | (138 | ) |
| Total income tax                            |   | $                            | 11,480 |   |   | $ | 8,806 |   |
|                                        |   |                         |   |   |   |   |   |   |
| Effective tax rate - federal                |   |                         | 36.7   | % |   |   | 30.1 | % |
| Effective tax rate - state                  |   |                         | 4.1    | % |   |   | 11.1 | % |
| Effective tax rate - combined               |   |                         | 40.8   | % |   |   | 41.2 | % |

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|                                            |   | Three Months Ended March 31, |   |
|-------------------------------------------------|--------|------------------------------|--------|
|                                            |   | 2010                         |   |   | 2009    |   |
| Revenues from discontinued operations           |   | $                            | -      |   |   | $ | 56,377 |   |
| Income from discontinued operations before tax  |   |                         | -      |   |   |   | 7,481 |   |
| Income tax expense from discontinued operations |   |                         | -      |   |   |   | 3,104 |   |

| CHEC Investment          |   | Description                                                                                            |
|--------------------------|--------|--------------------------------------------------------------------------------------------------------|
| Griffith Energy Services |   | 100% controlling interest in a fuel distribution business                                              |
| Lyonsdale                |   | 75% controlling interest in a wood-fired biomass electric generating plant                             |
| CH-Greentree             |   | 100% equity interest in a molecular gate used to remove nitrogen from landfill gas                     |
| CH-Auburn                |   | 100% equity interest in an electric generating plant that utilizes landfill gas to produce electricity |
| Cornhusker Holdings      |   | 12% equity interest plus subordinated debt investment in an operating corn-ethanol plant               |
| CH-Community Wind        |   | 50% equity interest in a joint venture that owns 18% interest in an operating wind project             |
| CH Shirley               |   | 100% ownership of CH Shirley, which owns 90% controlling interest in a wind project in construction    |
| Other                    |   | Other renewable energy projects and partnerships and an energy sector venture capital fund             |

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|                     |   | Gross Carrying Amount |   |   | Accumulated Amortization |   |   | Net    |   |
|--------------------------|--------|-----------------------|--------|--------|--------------------------|--------|--------|--------|--------|
| Customer relationships   |   | $                     | 21,420 |   |                     | $      | 6,850  |   |   | $ | 14,570 |   |
| Trademarks               |   |                  | 2,956  |   |                     |   | 624    |   |   |   | 2,332 |   |
| Covenants not to compete |   |                  | 1,505  |   |                     |   | 1,097  |   |   |   | 408 |   |
| Total                    |   | $                     | 25,881 |   |                     | $      | 8,571  |   |   | $ | 17,310 |   |

|                          |   | March 31, 2010        |   |   | December 31, 2009        |   |   | March 31, 2009        |   |
|-------------------------------|--------|-----------------------|--------|--------|--------------------------|--------|--------|-----------------------|--------|
|                          |   | Gross Carrying Amount |   |   | Accumulated Amortization |   |   | Gross Carrying Amount |   |   | Accumulated Amortization |   |   | Gross Carrying Amount |   |   | Accumulated Amortization |   |
| Customer relationships        |   | $                     | 33,745 |   |                     | $      | 19,519 |                  |   | $ | 33,745 |   |   | $ | 18,957 |   |   | $ | 55,171 |   |   | $ | 23,168 |   |
| Trademarks                    |   |                  | -      |   |                     |   | -      |                  |   |   | - |   |   |   | - |   |   |   | 2,956 |   |   |   | 423 |   |
| Covenants not to compete      |   |                  | 100    |   |                     |   | 80     |                  |   |   | 100 |   |   |   | 75 |   |   |   | 1,605 |   |   |   | 1,051 |   |
| Total Amortizable Intangibles |   | $                     | 33,845 |   |                     | $      | 19,599 |                  |   | $ | 33,845 |   |   | $ | 19,032 |   |   | $ | 59,732 |   |   | $ | 24,642 |   |

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|                           |   | Three Months Ended |   |   | Year Ended        |   |    | Three Months Ended |   |
|--------------------------------|--------|--------------------|--------|--------|-------------------|--------|---------|--------------------|--------|
|                           |   | March 31, 2010     |   |   | December 31, 2009 |   |    | March 31, 2009     |   |
| Balance at Beginning of Period |   | $                  | 35,651 |   |              | $      | 67,455  |               |   | $ | 67,455 |   |
| Divestitures                   |   |               | -      |   |              |   | (31,804 | )(1)               |   |   | - |   |
| Balance at End of Period       |   | $                  | 35,651 |   |              | $      | 35,651  |               |   | $ | 67,455 |   |

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|                            |   | Pension Benefits            |   |   | OPEB(1)                     |   |
|---------------------------------|--------|-----------------------------|--------|--------|-----------------------------|--------|
|                            |   | Three Months EndedMarch 31, |   |   | Three Months EndedMarch 31, |   |
|                            |   | 2010                        |   |   | 2009                        |   |   | 2010 |   |   | 2009 |   |
| Service cost                    |   | $                           | 2,272  |   |                        | $      | 1,956 |   |   | $ | 531 |   |   | $ | 519 |   |
| Interest cost                   |   |                        | 6,571  |   |                        |   | 6,455 |   |   |   | 1,712 |   |   |   | 1,791 |   |
| Expected return on plan assets  |   |                        | (6,225 | )      |                        |   | (4,969 | ) |   |   | (1,267 | ) |   |   | (1,271 | ) |
| Amortization of:                |   |                        |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |
| Prior service cost (credit)     |   |                        | 544    |   |                        |   | 544 |   |   |   | (1,467 | ) |   |   | (1,467 | ) |
| Transitional obligation (asset) |   |                        | -      |   |                        |   | - |   |   |   | 641 |   |   |   | 641 |   |
| Recognized actuarial loss       |   |                        | 7,377  |   |                        |   | 6,350 |   |   |   | 2,073 |   |   |   | 2,209 |   |
|                            |   |                        |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |
| Net Periodic Benefit Cost       |   | $                           | 10,539 |   |                        | $      | 10,336 |   |   | $ | 2,223 |   |   | $ | 2,422 |   |

| (1) | The OPEB amounts for both years reflect the effect of the Medicare Prescription Drug Improvement and Modernization Act of 2003. |
|-----|---------------------------------------------------------------------------------------------------------------------------------|

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|                                                                    |   | March 31, |     |   | December 31, |   |     | March 31, |   |
|-------------------------------------------------------------------------|--------|-----------|----------|--------|--------------|--------|----------|-----------|--------|
|                                                                    |   | 2010      |     |   | 2009         |   |     | 2009      |   |
| Prefunded (accrued) pension costs prior to funding status adjustment    |   | $         | 31,261   |   |         | $      | 11,661   |      |   | $ | 22,179 |   |
| Additional liability required                                           |   |      | (156,722 | )      |         |   | (164,644 | )         |   |   | (185,190 | ) |
| Total accrued pension liability                                         |   | $         | (125,461 | )      |         | $      | (152,983 | )         |   | $ | (163,011 | ) |
|                                                                    |   |      |     |   |         |   |     |      |   |   |   |   |
| Total offset to additional liability - Regulatory assets - Pension Plan |   | $         | 156,722  |   |         | $      | 164,644  |      |   | $ | 185,190 |   |

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| Asset Class                |   |  Minimum |   | Target Average |   | Maximum |
|----------------------------|--------|---------------|--------|----------------|--------|---------|
| Equity Securities          |   | 55%           |   | 60%            |   | 65%     |
| Debt Securities            |   | 35%           |   | 40%            |   | 45%     |
| Alternative Investments(1) |   |  - %     |   | - %            |   | 5%      |

|   | · | Achieve a rate of return for the Plan over the long-term that contributes to meeting the Plan’s current and future obligations, including actuarial interest and benefit payment obligations. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Earn long-term returns from capital appreciation and current income that at least keep pace with inflation over the long term by meeting or exceeding the benchmark index net of fees as described below. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Asset Class       |   | Minimum |   | Target Average |   | Maximum |
|-------------------|--------|---------|--------|----------------|--------|---------|
| Equity Securities |   | 55%     |   | 65%            |   | 75%     |
| Debt Securities   |   | 25%     |   | 35%            |   | 35%     |

| Grant Date       |   | Grant DateFair Value |   |   | Performance SharesGranted |   |   | Performance SharesOutstanding atMarch 31, 2010 |   |
|------------------|--------|----------------------|--------|--------|---------------------------|--------|--------|------------------------------------------------|--------|
| January 25, 2007 |   | $                    | 50.56  |   |                      |   | 21,330 |                                           |   |   | 19,380 |   |
| January 24, 2008 |   | $                    | 35.76  |   |                      |   | 33,440 |                                           |   |   | 31,900 |   |
| January 26, 2009 |   | $                    | 49.29  |   |                      |   | 36,730 |                                           |   |   | 36,730 |   |
| February 8, 2010 |   | $                    | 38.62  |   |                      |   | 48,740 |                                           |   |   | 48,740 |   |

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|                                      |   | Three Months Ended |   |
|-------------------------------------------|--------|--------------------|--------|
|                                      |   | March 31,          |   |
|                                      |   | 2010               |   |   | 2009 |   |
| Performance shares - compensation expense |   | $                  | 604    |   |   | $ | 213 |   |

|            |   |     |   |   |    |      |   |        |      |   |          | Weighted |   |        |      |   |
|-----------------|--------|----------|--------|--------|---------|-----------|--------|-------------|-----------|--------|---------------|----------|--------|-------------|-----------|--------|
|            |   |     |   |   |    | Number of |   |        | Number of |   |          | Average  |   |        | Number of |   |
|            |   | Exercise |   |   | Options |      |   | Options     |      |   | Remaining     |     |   | Options     |      |
| Date of Grant   |   | Price    |   |   | Granted |      |   | Outstanding |      |   | Life in Years |     |   | Exercisable |      |
| January 1, 2001 |   |     | $      | 44.06  |    |      |   | 59,900      |      |   |          | 18,560   |   |        |      | 0.75   |   |   |   | 18,560 |   |
| January 1, 2003 |   |     | $      | 48.62  |    |      |   | 36,900      |      |   |          | 17,420   |   |        |      | 2.75   |   |   |   | 17,420 |   |
|            |   |     |   |   |    |      |   | 96,800      |      |   |          | 35,980   |   |        |      | 1.72   |   |   |   | 35,980 |   |

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|                                                                                                                                                                                   |   |   |         |   |   |           |   |   |              |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------------|--------|--------|----------------|--------|--------|-------------------|--------|
|                                                                                                                                                                                   |   |   |         |   |   |           |   |   | Weighted          |   |
|                                                                                                                                                                                   |   |   |         |   |   | Weighted       |   |   | Average Remaining |   |
|                                                                                                                                                                                   |   |   | Stock Option |   |   | Average        |   |   | Life              |   |
|                                                                                                                                                                                   |   |   | Shares       |   |   | Exercise Price |   |   | in Years          |   |
| Outstanding at12/31/09                                                                                                                                                                 |   |   | 35,980       |   |   | $              | 46.27  |   |              |   | 1.97 |   |
|                             Granted             |   |   | -            |   |   |           | -      |   |              |   |   |   |
|                             Exercised                |   |   | -            |   |   |           | -      |   |              |   |   |   |
|                             Expired / Forfeited |   |   | -            |   |   |           | -      |   |              |   |   |   |
| Outstanding at3/31/10                                                                                                                                                                  |   |   | 35,980       |   |   | $              | 46.27  |   |              |   | 1.72 |   |
|                                                                                                                                                                                   |   |   |         |   |   |           |   |   |              |   |   |   |   |

| Total CH Energy Group Shares Outstanding | 15,813,388  |   |
|------------------------------------------|------------------|--------|
| Potential Dilution                       |             | 0.2%   |   |

| Grant Date        |   | Type of Award |   | Shares orStock Units Granted |   |   | Grant DateFair Value |   | Vesting Terms |   | Unvested Shares Outstanding at March 31, 2010 |   |
|-------------------|--------|---------------|--------|------------------------------|--------|--------|----------------------|--------|---------------|--------|-----------------------------------------------|--------|
| January 2, 2008   |   | Shares        |   |                         | 10,000 |   |                 | $      | 44.32         |   | End of 3 years                                |   |   | 8,900 | (1) |
| January 2, 2008   |   | Shares        |   |                         | 2,100  |   |                 | $      | 44.32         |   | Ratably over 3 years                          |   |   | 700 |   |
| January 26, 2009  |   | Shares        |   |                         | 2,930  |   |                 | $      | 49.29         |   | End of 3 years                                |   |   | 2,680 | (2)  |
| October 1, 2009   |   | Shares        |   |                         | 14,375 |   |                 | $      | 43.86         |   | Ratably over 5 years                          |   |   | 14,375 |   |
| November 20, 2009 |   | StockUnits    |   |                         | 13,900 |   |                 | $      | 41.43         |   | 1/3 each year inYears 5, 6 and 7              |   |   | 13,900 |   |
| February 8, 2010  |   | Shares        |   |                         | 3,060  |   |                 | $      | 38.62         |   | End of 3 years                                |   |   | 3,060 |   |
| February 10, 2010 |   | Shares        |   |                         | 5,200  |   |                 | $      | 38.89         |   | End of 3 years                                |   |   | 5,200 |   |

| (1) | 500 shares were forfeited upon resignation of the employee holding the shares and the vesting of 600 shares was accelerated upon a change in control for an individual resulting from the sale of certain assets of Griffith. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | The vesting of 250 shares was accelerated upon a change in control for an individual resulting from the sale of certain assets of Griffith. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------|

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|   | · | Air |
|--------|--------|-----|

|   | · | Former Manufactured Gas Plant Facilities |
|--------|--------|------------------------------------------|

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| Site | Status                             |
|------|------------------------------------|
| #1   | Beacon, NY                         | Interim Remediation work complete.  Final Report approved by the DEC.  A site Management Plan is being developed by Central Hudson.  The property owner is finalizing a deed restriction for the property with the DEC. |
| #2   | Newburgh, NY                       | The DEC has approved the Construction Completion Report for the remediation that was completed at Area A of the site.  Remediation is currently underway in Areas B and C, and is scheduled to be completed by the end of 2010.  Site restoration work will be completed in 2011. |
| #3   | Laurel StreetPoughkeepsie, NY      | Remediation work is complete.  The Construction Completion Report is under review by the DEC.  As requested by the DEC, fifteen additional monitoring wells were installed in the 1st quarter of 2010.  Quarterly monitoring will begin in the 2nd quarter of 2010. |
| #4   | North Water StreetPoughkeepsie, NY | As requested by the DEC, additional land and river investigations will be conducted in the 2nd quarter of 2010.  Monitoring for the Reactive Cap Pilot study is ongoing. |
| #5   | Kingston, NY                       | Additional land and river investigations have been approved by the DEC.  Work will begin in the 2nd quarter of 2010.  Previously, a license agreement with a private party and Central Hudson had allowed the presence and mooring of tug boats and a “Dry Dock” in the Rondout Creek in front of the Kingston site.  All tugs have been removed by the owner.  There has previously been disagreement as to the overall responsibility of the “Dry Dock” which has sunk and resides at the bottom of the Rondout Creek waterway.  We are currently involved in legal proceedings seeking to get the “Dry Dock” removed, and while responsibility for the “Dry Dock” appears to have been established as belonging to the private party, the outcome of the proceedings is uncertain. |
| #6   | Catskill, NY                       | Site investigation has been completed under the DEC-approved Brownfield Cleanup Agreement.  A Remedial Investigation Report will be submitted to the DEC in the 2nd quarter of 2010. |
| #7   | Saugerties, NY                     | This site has been removed from the DEC listing of sites in which Central Hudson has remedial responsibility. |
| #8   | Bayeaux StreetPoughkeepsie, NY     | Central Hudson does not believe it has any further liability for this site. |
| #9   | Broad StreetNewburgh, NY           | The DEC began making inquiries about this additional site in May 2009.  Central Hudson does not believe it has any liability for this site and has responded to the DEC on June 22, 2009 confirming this position. |

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| Site #     |   |   | Estimate |    |   | Liability Recorded as of 12/31/09 |   |   | Amounts Spent in 2010(3) |   |   | Liability Adjustment |   |   | Liability Recorded as of 3/31/10 |   |   | Current Portion of Liability at 3/31/10 |   |   | Long term portion of Liability at 3/31/10 |   |
|------------|--------|--------|----------|---------|--------|-----------------------------------|--------|--------|--------------------------|--------|--------|----------------------|--------|--------|----------------------------------|--------|--------|-----------------------------------------|--------|--------|-------------------------------------------|--------|
| 2, 3(1)    |   |   | $        | 44,700  |   |                              | $      | 18,554 |                     |   | $      | (4,262               | )      |   | $                                | 96     |   |                                    | $      | 14,388 |                                      |   | $ | 11,084 |   |   | $ | 3,304 |   |
| 4, 5, 6(2) |   |   |     | 121,000 |   |                              |   | 1,676  |                     |   |   | (78                  | )      |   |                             | -      |   |                                    |   | 1,598  |                                      |   |   | 1,250 |   |   |   | 348 |   |
|       |   |   | $        | 165,700 |   |                              | $      | 20,230 |                     |   | $      | (4,340               | )      |   | $                                | 96     |   |                                    | $      | 15,986 |                                      |   | $ | 12,334 |   |   | $ | 3,652 |   |

| (1) | The estimates for sites #2 and 3 are currently based on the actual completed or contracted remediation costs.  However, these estimates are subject to change.  The estimated liability recorded for sites #2 and 3 are based on estimates of remediation costs for the proposed clean-up plans. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | No amounts have been recorded in connection with physical remediation for sites #4, 5 and 6.  Absent DEC-approved remediation plans, Management cannot reasonably estimate what cost, if any, will actually be incurred.  The estimated liability for sites #4, 5 and 6 are based on the latest forecast of activities at these sites in connection with estimated costs for preliminary investigations, site testing and development of remediation plans for these sites.  For additional discussion of estimates, see paragraphs below. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Amounts spent in 2010 as shown above do not include legal fees of approximately $11,000. |
|-----|------------------------------------------------------------------------------------------|

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|   | · | Little Britain Road |
|--------|--------|---------------------|

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|   | · | Asbestos Litigation |
|--------|--------|---------------------|

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|                                              |   | Three Months Ended March 31, 2010 |      |
|---------------------------------------------------|--------|-----------------------------------|-----------|
|                                              |   | Segments                          |      |   | Other |   |   |   |   |   |   |   |
|                                              |   | Central Hudson                    |      |   |   |   |   | Businesses |   |   |   |   |   |   |   |
|                                              |   |                              |      |   | Natural |   |   |   |   |   | and |   |   |   |   |   |   |   |
|                                              |   | Electric                          |      |   | Gas |   |   | Griffith |   |   | Investments |   |   | Eliminations |   |   | Total |   |
| Revenues from external customers                  |   | $                                 | 145,962   |   |   | $ | 69,087 |   |   | $ | 84,467 |   |   | $ | 3,126 |   |   | $ | - |   |   | $ | 302,642 |   |
| Intersegment revenues                             |   |                              | 1         |   |   |   | 175 |   |   |   | - |   |   |   | - |   |   |   | (176 | ) |   |   | - |   |
| Total revenues                                    |   |                              | 145,963   |   |   |   | 69,262 |   |   |   | 84,467 |   |   |   | 3,126 |   |   |   | (176 | ) |   |   | 302,642 |   |
| Operating income                                  |   |                              | 20,127    |   |   |   | 13,632 |   |   |   | 7,343 |   |   |   | 186 |   |   |   | - |   |   |   | 41,288 |   |
| Interest and investment income                    |   |                              | 762       |   |   |   | 363 |   |   |   | 1 |   |   |   | 599 |   |   |   | (598 | )(1) |   |   | 1,127 |   |
| Interest charges                                  |   |                              | 5,095     |   |   |   | 1,341 |   |   |   | 521 |   |   |   | 949 |   |   |   | (598 | )(1) |   |   | 7,308 |   |
| Income before income taxes                        |   |                              | 15,607    |   |   |   | 12,518 |   |   |   | 6,880 |   |   |   | (257 | ) |   |   | - |   |   |   | 34,748 |   |
| Net income (loss) attributable to CH Energy Group |   |                              | 9,111     |   |   |   | 7,292 |   |   |   | 4,059 |   |   |   | (24 | ) |   |   | - |   |   |   | 20,438 |   |
| Segment assets at March 31                        |   |                              | 1,189,303 |   |   |   | 371,030 |   |   |   | 107,564 |   |   |   | 93,046 |   |   |   | (451 | )(2) |   |   | 1,760,492 |   |

| (1) | This represents the elimination of inter-company interest income (expense) generated from lending activities between CH Energy Group (the holding company), and its subsidiaries (CHEC and Griffith). |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Includes non-controlling owner's interest of $1,420 related to Lyonsdale. |
|-----|---------------------------------------------------------------------------|

|                                       |   | Three Months Ended March 31, 2009 |      |
|--------------------------------------------|--------|-----------------------------------|-----------|
|                                       |   | Segments                          |      |   | Other |   |   |   |   |   |   |   |
|                                       |   | Central Hudson                    |      |   |   |   |   | Businesses |   |   |   |   |   |   |   |
|                                       |   |                              |      |   | Natural |   |   |   |   |   | and |   |   |   |   |   |   |   |
|                                       |   | Electric                          |      |   | Gas |   |   | Griffith |   |   | Investments |   |   | Eliminations |   |   | Total |   |
| Revenues from external customers           |   | $                                 | 156,753   |   |   | $ | 90,123 |   |   | $ | 73,008 |   |   | $ | 2,212 |   |   | $ | - |   |   | $ | 322,096 |   |
| Intersegment revenues                      |   |                              | 6         |   |   |   | 219 |   |   |   | - |   |   |   | - |   |   |   | (225 | ) |   |   | - |   |
| Total revenues                             |   |                              | 156,759   |   |   |   | 90,342 |   |   |   | 73,008 |   |   |   | 2,212 |   |   |   | (225 | ) |   |   | 322,096 |   |
| Operating income                           |   |                              | 15,747    |   |   |   | 11,484 |   |   |   | 9,944 |   |   |   | (276 | ) |   |   | - |   |   |   | 36,899 |   |
| Interest and investment income             |   |                              | 351       |   |   |   | 395 |   |   |   | 5 |   |   |   | 1,417 |   |   |   | (1,052 | )(1) |   |   | 1,116 |   |
| Interest charges                           |   |                              | 4,880     |   |   |   | 1,338 |   |   |   | 560 |   |   |   | 128 |   |   |   | (1,052 | )(1) |   |   | 5,854 |   |
| Income before income taxes                 |   |                              | 10,952    |   |   |   | 10,447 |   |   |   | 9,513 |   |   |   | (529 | ) |   |   | - |   |   |   | 30,383 |   |
| Net income attributable to CH Energy Group |   |                              | 6,295     |   |   |   | 6,056 |   |   |   | 10,026 | (3) |   |   | 744 |   |   |   | - |   |   |   | 23,121 |   |
| Segment assets at March 31                 |   |                              | 1,123,341 |   |   |   | 391,559 |   |   |   | 193,175 |   |   |   | 38,920 |   |   |   | (75 | )(2) |   |   | 1,746,920 |   |

| (1) | This represents the elimination of inter-company interest income (expense) generated from lending activities between CH Energy Group (the holding company), and its subsidiaries (CHEC and Griffith). |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Includes non-controlling owner's interest of $1,417 related to Lyonsdale. |
|-----|---------------------------------------------------------------------------|

| (3) | Includes income from discontinued operations of $4,377. |
|-----|---------------------------------------------------------|

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|                              |   | Three Months Ended March 31, 2010 |      |
|-----------------------------------|--------|-----------------------------------|-----------|
|                              |   | Electric                          |      |   | Natural Gas |   |   | Eliminations |   |   | Total |   |
| Revenues from external customers  |   | $                                 | 145,962   |   |   | $ | 69,087 |   |   | $ | - |   |   | $ | 215,049 |   |
| Intersegment revenues             |   |                              | 1         |   |   |   | 175 |   |   |   | (176 | ) |   |   | - |   |
| Total revenues                    |   |                              | 145,963   |   |   |   | 69,262 |   |   |   | (176 | ) |   |   | 215,049 |   |
| Operating income                  |   |                              | 20,127    |   |   |   | 13,632 |   |   |   | - |   |   |   | 33,759 |   |
| Interest and investment income    |   |                              | 762       |   |   |   | 363 |   |   |   | - |   |   |   | 1,125 |   |
| Interest charges                  |   |                              | 5,095     |   |   |   | 1,341 |   |   |   | - |   |   |   | 6,436 |   |
| Income before income taxes        |   |                              | 15,607    |   |   |   | 12,518 |   |   |   | - |   |   |   | 28,125 |   |
| Income available for common stock |   |                              | 9,111     |   |   |   | 7,292 |   |   |   | - |   |   |   | 16,403 |   |
| Segment assets at March 31        |   |                              | 1,189,303 |   |   |   | 371,030 |   |   |   | - |   |   |   | 1,560,333 |   |
|                              |   |                              |      |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                              |   | Three Months Ended March 31, 2009 |      |
|-----------------------------------|--------|-----------------------------------|-----------|
|                              |   | Electric                          |      |   | Natural Gas |   |   | Eliminations |   |   | Total |   |
| Revenues from external customers  |   | $                                 | 156,753   |   |   | $ | 90,123 |   |   | $ | - |   |   | $ | 246,876 |   |
| Intersegment revenues             |   |                              | 6         |   |   |   | 219 |   |   |   | (225 | ) |   |   | - |   |
| Total revenues                    |   |                              | 156,759   |   |   |   | 90,342 |   |   |   | (225 | ) |   |   | 246,876 |   |
| Operating income                  |   |                              | 15,747    |   |   |   | 11,484 |   |   |   | - |   |   |   | 27,231 |   |
| Interest and investment income    |   |                              | 351       |   |   |   | 395 |   |   |   | - |   |   |   | 746 |   |
| Interest charges                  |   |                              | 4,880     |   |   |   | 1,338 |   |   |   | - |   |   |   | 6,218 |   |
| Income before income taxes        |   |                              | 10,952    |   |   |   | 10,447 |   |   |   | - |   |   |   | 21,399 |   |
| Income available for common stock |   |                              | 6,295     |   |   |   | 6,056 |   |   |   | - |   |   |   | 12,351 |   |
| Segment assets at March 31        |   |                              | 1,123,341 |   |   |   | 391,559 |   |   |   | - |   |   |   | 1,514,900 |   |

|   | · | Interest rate caps are used to hedge interest rate risks and to improve the matching of assets and liabilities.  An interest rate cap is an interest rate option agreement in which payments are made by the seller of the option when the reference rate exceeds the specified strike rate (or the set rate at which the option contract can be exercised).  The purpose of these agreements is to hedge against rising interest rates while still having the ability to take advantage of falling interest rates by putting a “cap” on the interest rate Central Hudson pays on debt for which such caps are purchased. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | · | Natural gas futures are used to hedge natural gas purchases.  A natural gas futures contract is a standardized contract to buy or sell a specified commodity (natural gas) of standardized quality at a certain date in the future, at a market determined price (the futures price).  Central Hudson’s reason for purchasing these contracts is to hedge against the risk of price fluctuations related to natural gas and to reduce the impact of volatility in the commodity markets on its customers. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Natural gas swaps and contracts for differences (electricity swaps) are used to hedge natural gas and electricity purchases.  A swap contract or a contract for difference is the exchange of two payment streams between two counterparties where the cash flows are dependant on the price of the underlying commodity.  One party’s payment stream is based on a fixed price and the other party’s payment stream is based on a floating (market) price.  The purpose of these types of contracts is to hedge against the risk of price fluctuations related to purchasing natural gas and electricity supplies for Central Hudson’s customers.  In an effort to moderate volatility by locking in prices, Central Hudson always takes the fixed side of the transaction, agreeing to pay the counterparty a fixed payment stream.  In return, Central Hudson receives payments based on the market price for the commodity involved. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Option contracts on heating oil are used to establish ceiling prices to limit Griffith’s exposure to changes in heating oil prices for forecasted heating oil supply requirements for capped price programs that are not hedged by firm purchase commitments.  An option contract is the right, but not the obligation, to buy (for a call option) or sell (for a put option) a specific amount of the given commodity, at a specified price (the strike price) during a specified period of time. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | · | Weather derivative contracts are used to limit the effect on earnings of significant variances in weather conditions from normal patterns.  Weather derivatives are financial instruments that can be used as part of a risk management strategy to reduce risk associated with adverse or unexpected weather conditions. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                                                   |   | As of March 31, 2010                             |   |
|------------------------------------------------------------------------|--------|--------------------------------------------------|--------|
| Triggering Event                                                       |   | # of Contracts Containing the Triggering Feature |   |   | Gross Fair Value of Contract |   |   | Cost to Settle if Contingent Feature is Triggered(net of collateral) |   |
| Central Hudson:                                                        |   |                                             |   |   |   |   |   |   |   |
| Change in Ownership (CHEG ownership of CHG&E falls below 51%) |   |                                             | 1      |   |   | $ | (30 | ) |   | $ | (30 | ) |
| Credit Rating Downgrade (to below BBB-)                                |   |                                             | 3      |   |   |   | (33 | ) |   |   | (33 | ) |
| Adequate Assurance(1)                                                  |   |                                             | 1      |   |   |   | (10,051 | ) |   |   | (9,551 | ) |
| Total Central Hudson                                                   |   |                                             | 5      |   |   |   | (10,114 | ) |   |   | (9,614 | ) |
|                                                                   |   |                                             |   |   |   |   |   |   |   |   |   |   |
| Griffith:                                                              |   |                                             |   |   |   |   |   |   |   |   |   |   |
| Change in Ownership (CHEG ownership of CHEC falls below 51%)      |   |                                             | 5      |   |   |   | 46 |   |   |   | 46 |   |
| Adequate Assurance(1)                                                  |   |                                             | 3      |   |   |   | 18 |   |   |   | 18 |   |
| Total Griffith                                                         |   |                                             | 8      |   |   |   | 64 |   |   |   | 64 |   |
|                                                                   |   |                                             |   |   |   |   |   |   |   |   |   |   |
| Total CH Energy Group                                                  |   |                                             | 13     |   |   | $ | (10,050 | ) |   | $ | (9,550 | ) |

| (1) | If the counterparty has reasonable grounds to believe Central Hudson's or Griffith's creditworthiness or performance has become unsatisfactory, it can request collateral in an amount determined by the counterparty, not to exceed the amount required to settle the contract. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                                     |   | March 31,2010 |    |   | December 31,2009 |   |    | March 31,2009 |   |
|----------------------------------------------------------|--------|---------------|---------|--------|------------------|--------|---------|---------------|--------|
| Derivatives in an Asset Position:                        |   |          |    |   |             |   |    |          |   |
| Not Designated as Hedging Instruments:(1)                |   |          |    |   |             |   |    |          |   |
| Central Hudson electricity swap contracts                |   | $             | -       |   |             | $      | 314     |          |   | $ | - |   |
| Central Hudson natural gas swap contracts                |   |          | -       |   |             |   | 79      |          |   |   | - |   |
| Central Hudson interest rate cap contract                |   |          | -       |   |             |   | -       |          |   |   | - |   |
| Total Central Hudson Derivatives in an Asset Position    |   |          | -       |   |             |   | 393     |          |   |   | - |   |
|                                                     |   |          |    |   |             |   |    |          |   |   |   |   |
| Griffith heating oil call option contracts               |   |          | 64      |   |             |   | 348     |          |   |   | 2 |   |
|                                                     |   |          |    |   |             |   |    |          |   |   |   |   |
| Total CH Energy Group Derivatives in Asset Position      |   | $             | 64      |   |             | $      | 741     |          |   | $ | 2 |   |
|                                                     |   |          |    |   |             |   |    |          |   |   |   |   |
| Derivatives in a Liability Position:                     |   |          |    |   |             |   |    |          |   |   |   |   |
| Not Designated as Hedging Instruments:(1)                |   |          |    |   |             |   |    |          |   |   |   |   |
| Central Hudson electricity swap contracts                |   | $             | (36,628 | )      |             | $      | (12,297 | )             |   | $ | (17,506 | ) |
| Central Hudson natural gas swap contracts                |   |          | (111    | )      |             |   | (1,256  | )             |   |   | (3,010 | ) |
| Total Central Hudson Derivatives in a Liability Position |   |          | (36,739 | )      |             |   | (13,553 | )             |   |   | (20,516 | ) |
|                                                     |   |          |    |   |             |   |    |          |   |   |   |   |
| Griffith other derivative financial instrument           |   |          | (50     | )      |             |   | (284    | )             |   |   | - |   |
|                                                     |   |          |    |   |             |   |    |          |   |   |   |   |
| Total CH Energy Group Derivatives in Liability Position  |   | $             | (36,789 | )      |             | $      | (13,837 | )             |   | $ | (20,516 | ) |

| (1) | See discussion following tables for additional information regarding regulatory treatment of gains and losses on Central Hudson's derivative contracts. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                                |   | Amount of Gain/(Loss) Recognized as Increase/(Decrease) in the Income Statement |   | Location of Gain/(Loss) |
|-----------------------------------------------------|--------|---------------------------------------------------------------------------------|--------|-------------------------|
|                                                |   | Three Months Ended March 31,                                                    |   |                    |
|                                                |   | 2010                                                                            |   |                    | 2009 |   |   |
| Central Hudson electricity swap contracts      |   | $                                                                               | (2,850 | )                       |   | $ | (3,464 | ) | Regulatory asset(1) |
| Central Hudson natural gas swap contracts      |   |                                                                            | (1,778 | )                       |   |   | (11,021 | ) | Regulatory asset(1) |
| Central Hudson interest rate cap contract      |   |                                                                            | -      |                    |   |   | - |   | Regulatory asset(1) |
| Griffith heating oil call option contracts     |   |                                                                            | (14    | )                       |   |   | - |   | Purchased petroleum |
| Griffith other derivative financial instrument |   |                                                                            | 51     |                    |   |   | - |   | Purchased petroleum |
| Total                                               |   | $                                                                               | (4,591 | )                       |   | $ | (14,485 | ) |   |

|                       | Amount of Gain/(Loss) Recognized as Increase/(Decrease) in Purchased Electric and Purchased Natural Gas |                         | Location of Gain/(Loss) |
|----------------------------|---------------------------------------------------------------------------------------------------------|------------------------------|-------------------------|
|                       |                                                                                                    | Three Months Ended March 31, |                    |   |
|                       | 2010                                                                                                    |                         | 2009                    |   |   |
| Electricity swap contracts |                                                                                                    | $                            | (2,850                  | ) |   | $ | (3,464 | ) | Regulatory asset(1) |
| Natural gas swap contracts |                                                                                                    |                         | (1,778                  | ) |   |   | (11,021 | ) | Regulatory asset(1) |
| Interest rate cap contract |                                                                                                    |                         | -                       |   |   |   | - |   | Regulatory asset(1) |
| Total                      |                                                                                                    | $                            | (4,628                  | ) |   | $ | (14,485 | ) |   |

| (1) | Realized gains and losses on Central Hudson’s derivative instruments are conveyed to or recovered from customers through PSC authorized deferral accounting mechanisms, with an offset in revenue and on the balance sheet, and no impact on results of operations. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Asset or Liability Category                      |   | Fair Value |    |   | Quoted Prices in Active Markets for Identical Assets(Level 1) |   |   | Significant Other Observable Inputs(Level 2) |   |   | Significant Unobservable Inputs(Level 3) |   |
|--------------------------------------------------|--------|------------|---------|--------|---------------------------------------------------------------|--------|--------|----------------------------------------------|--------|--------|------------------------------------------|--------|
| As of March 31, 2010                             |   |       |    |   |                                                          |   |   |                                         |   |   |                                     |   |
| Assets:                                          |   |       |    |   |                                                          |   |   |                                         |   |   |                                     |   |
| Derivative Contracts:                            |   |       |    |   |                                                          |   |   |                                         |   |   |                                     |   |
| Griffith - heating oil                           |   | $          | 64      |   |                                                          | $      | 64     |                                         |   | $      | -                                        |   |   | $ | - |   |
| Central Hudson - interest rate cap               |   |       | -       |   |                                                          |   | -      |                                         |   |   | -                                        |   |   |   | - |   |
| Total Assets                                     |   | $          | 64      |   |                                                          | $      | 64     |                                         |   | $      | -                                        |   |   | $ | - |   |
|                                             |   |       |    |   |                                                          |   |   |                                         |   |   |                                     |   |   |   |   |   |
| Liabilities:                                     |   |       |    |   |                                                          |   |   |                                         |   |   |                                     |   |   |   |   |   |
| Derivative Contracts:                            |   |       |    |   |                                                          |   |   |                                         |   |   |                                     |   |   |   |   |   |
| Central Hudson - electric                        |   | $          | (36,628 | )      |                                                          | $      | -      |                                         |   | $      | -                                        |   |   | $ | (36,628 | ) |
| Central Hudson - natural gas                     |   |       | (111    | )      |                                                          |   | (111   | )                                            |   |   | -                                        |   |   |   | - |   |
| Griffith - other derivative financial instrument |   |       | (50     | )      |                                                          |   | -      |                                         |   |   | (50                                      | )      |   |   | - |   |
| Total Liabilities                                |   | $          | (36,789 | )      |                                                          | $      | (111   | )                                            |   | $      | (50                                      | )      |   | $ | (36,628 | ) |
|                                             |   |       |    |   |                                                          |   |   |                                         |   |   |                                     |   |   |   |   |   |
| As of December 31, 2009                          |   |       |    |   |                                                          |   |   |                                         |   |   |                                     |   |   |   |   |   |
| Assets:                                          |   |       |    |   |                                                          |   |   |                                         |   |   |                                     |   |   |   |   |   |
| Derivative Contracts:                            |   |       |    |   |                                                          |   |   |                                         |   |   |                                     |   |   |   |   |   |
| Central Hudson - electric                        |   | $          | 314     |   |                                                          | $      | -      |                                         |   | $      | -                                        |   |   | $ | 314 |   |
| Central Hudson - natural gas                     |   |       | 79      |   |                                                          |   | 79     |                                         |   |   | -                                        |   |   |   | - |   |
| Griffith - heating oil                           |   |       | 348     |   |                                                          |   | 348    |                                         |   |   | -                                        |   |   |   | - |   |
| Central Hudson - interest rate cap               |   |       | -       |   |                                                          |   | -      |                                         |   |   | -                                        |   |   |   | - |   |
| Total Assets                                     |   | $          | 741     |   |                                                          | $      | 427    |                                         |   | $      | -                                        |   |   | $ | 314 |   |
|                                             |   |       |    |   |                                                          |   |   |                                         |   |   |                                     |   |   |   |   |   |
| Liabilities:                                     |   |       |    |   |                                                          |   |   |                                         |   |   |                                     |   |   |   |   |   |
| Derivative Contracts:                            |   |       |    |   |                                                          |   |   |                                         |   |   |                                     |   |   |   |   |   |
| Central Hudson - electric                        |   | $          | (12,297 | )      |                                                          | $      | -      |                                         |   | $      | -                                        |   |   | $ | (12,297 | ) |
| Central Hudson - natural gas                     |   |       | (1,256  | )      |                                                          |   | (1,256 | )                                            |   |   | -                                        |   |   |   | - |   |
| Griffith - other derivative financial instrument |   |       | (284    | )      |                                                          |   | -      |                                         |   |   | (284                                     | )      |   |   | - |   |
| Total Liabilities                                |   | $          | (13,837 | )      |                                                          | $      | (1,256 | )                                            |   | $      | (284                                     | )      |   | $ | (12,297 | ) |
|                                             |   |       |    |   |                                                          |   |   |                                         |   |   |                                     |   |   |   |   |   |
| As of March 31, 2009                             |   |       |    |   |                                                          |   |   |                                         |   |   |                                     |   |   |   |   |   |
| Assets:                                          |   |       |    |   |                                                          |   |   |                                         |   |   |                                     |   |   |   |   |   |
| Derivative Contracts:                            |   |       |    |   |                                                          |   |   |                                         |   |   |                                     |   |   |   |   |   |
| Griffith - heating oil                           |   | $          | 2       |   |                                                          | $      | 2      |                                         |   | $      | -                                        |   |   | $ | - |   |
| Total Assets                                     |   | $          | 2       |   |                                                          | $      | 2      |                                         |   | $      | -                                        |   |   | $ | - |   |
|                                             |   |       |    |   |                                                          |   |   |                                         |   |   |                                     |   |   |   |   |   |
| Liabilities:                                     |   |       |    |   |                                                          |   |   |                                         |   |   |                                     |   |   |   |   |   |
| Derivative Contracts:                            |   |       |    |   |                                                          |   |   |                                         |   |   |                                     |   |   |   |   |   |
| Central Hudson - Electric                        |   | $          | (17,506 | )      |                                                          | $      | -      |                                         |   | $      | -                                        |   |   | $ | (17,506 | ) |
| Central Hudson - Natural Gas                     |   |       | (3,010  | )      |                                                          |   | (3,010 | )                                            |   |   | -                                        |   |   |   | - |   |
| Total Liabilities                                |   | $          | (20,516 | )      |                                                          | $      | (3,010 | )                                            |   | $      | -                                        |   |   | $ | (17,506 | ) |

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|                                                                                                                                                                                 |   |               |    |   |           |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|---------|--------|----------------|--------|
|                                                                                                                                                                                 |   | Three Months Ended |    |
|                                                                                                                                                                                 |   | March 31, 2010     |    |   | March 31, 2009 |   |
| Balance at Beginning of Period                                                                                                                                                       |   | $                  | (11,983 | )      |           | $      | (5,538 | ) |
| Unrealized gains/(losses)                                                                                                                                                            |   |               | (24,645 | )      |           |   | (11,968 | ) |
| Realized losses                                                                                                                                                                      |   |               | (2,850  | )      |           |   | (3,464 | ) |
| Purchases, issuances, sales and settlements                                                                                                                                          |   |               | 2,850   |   |           |   | 3,464 |   |
| Transfers in and/or out of Level 3                                                                                                                                                   |   |               | -       |   |           |   | - |   |
| Balance at End of Period                                                                                                                                                             |   | $                  | (36,628 | )      |           | $      | (17,506 | ) |
|                                                                                                                                                                                 |   |               |    |   |           |   |   |   |
| The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to derivatives still held at end of period |   | $                  | -       |   |           | $      | - |   |
|                                                                                                                                                                                 |   |               |    |   |           |   |   |   |

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|                              |   | Expected Maturity Date |   |
|-----------------------------------|--------|------------------------|--------|
|                              |   | 2010                   |   |   | 2011 |   |   | 2012 |   | 2013 |   | 2014 |   | Thereafter |   |   | Total |   |   | Fair Value |   |
| Fixed Rate:                       |   | $                      | 24,000 |   |   | $ | 941 |   |   | $ | 37,007 |   |   | $ | 31,076 |   |   | $ | 41,650 |   |   | $ | 237,374 |   |   | $ | 372,048 |   |   | $ | 394,022 |   |
| Estimated Effective Interest Rate |   |                   | 4.38   | % |   |   | 6.86 | % |   |   | 6.71 | % |   |   | 6.93 | % |   |   | 6.02 | % |   |   | 5.94 | % |   |   | 6.01 | % |   |   |   |   |
| Variable Rate:                    |   | $                      | -      |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 115,850 |   |   | $ | 115,850 |   |   | $ | 115,850 |   |
| Estimated Effective Interest Rate |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 0.37 | % |   |   | 0.37 | % |   |   |   |   |
|                              |   |                   |   |   |   |   |   |   |   |   |   |   | Total Debt Outstanding |   |   |   |   |   | $ | 487,898 |   |   | $ | 509,872 |   |
|                              |   |                   |   |   |   |   |   |   |   |   |   |   | Estimated Effective Interest Rate |   |   |   | 4.67 | % |   |   |   |   |

|                              |   | Expected Maturity Date |   |
|-----------------------------------|--------|------------------------|--------|
|                              |   | 2010                   |   |   | 2011 |   |   | 2012 |   | 2013 |   | 2014 |   | Thereafter |   |   | Total |   |   | Fair Value |   |
| Fixed Rate:                       |   | $                      | 24,000 |   |   | $ | 941 |   |   | $ | 37,007 |   |   | $ | 31,076 |   |   | $ | 41,650 |   |   | $ | 237,373 |   |   | $ | 372,047 |   |   | $ | 385,527 |   |
| Estimated Effective Interest Rate |   |                   | 4.38   | % |   |   | 6.86 | % |   |   | 6.71 | % |   |   | 6.92 | % |   |   | 6.02 | % |   |   | 5.94 | % |   |   | 6.01 | % |   |   |   |   |
| Variable Rate:                    |   | $                      | -      |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 115,850 |   |   | $ | 115,850 |   |   | $ | 115,850 |   |
| Estimated Effective Interest Rate |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 0.82 | % |   |   | 0.82 | % |   |   |   |   |
|                              |   |                   |   |   |   |   |   |   |   |   |   |   | Total Debt Outstanding |   |   |   |   |   | $ | 487,897 |   |   | $ | 501,377 |   |
|                              |   |                   |   |   |   |   |   |   |   |   |   |   | Estimated Effective Interest Rate |   |   |   | 4.78 | % |   |   |   |   |

|                              |   | Expected Maturity Date |   |
|-----------------------------------|--------|------------------------|--------|
|                              |   | 2009                   |   |   | 2010 |   |   | 2011 |   | 2012 |   | 2013 |   | Thereafter |   |   | Total |   |   | Fair Value |   |
| Fixed Rate:                       |   | $                      | -      |   |   | $ | 24,000 |   |   | $ | - |   |   | $ | 36,000 |   |   | $ | 30,000 |   |   | $ | 208,045 |   |   | $ | 298,045 |   |   | $ | 279,894 |   |
| Estimated Effective Interest Rate |   |                   | -      | % |   |   | 4.38 | % |   |   | - | % |   |   | 6.71 | % |   |   | 6.92 | % |   |   | 5.79 | % |   |   | 5.90 | % |   |   |   |   |
| Variable Rate:                    |   | $                      | -      |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 115,850 |   |   | $ | 115,850 |   |   | $ | 115,850 |   |
| Estimated Effective Interest Rate |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 1.30 | % |   |   | 1.30 | % |   |   |   |   |
|                              |   |                   |   |   |   |   |   |   |   |   |   |   | Total Debt Outstanding |   |   |   |   |   | $ | 413,895 |   |   | $ | 395,744 |   |
|                              |   |                   |   |   |   |   |   |   |   |   |   |   | Estimated Effective Interest Rate |   |   |   | 4.61 | % |   |   |   |   |

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|                              |   | Expected Maturity Date |   |
|-----------------------------------|--------|------------------------|--------|
|                              |   | 2010                   |   |   | 2011 |   |   | 2012 |   | 2013 |   | 2014 |   | Thereafter |   |   | Total |   |   | Fair Value |   |
| Fixed Rate:                       |   | $                      | 24,000 |   |   | $ | - |   |   | $ | 36,000 |   |   | $ | 30,000 |   |   | $ | 14,000 |   |   | $ | 218,048 |   |   | $ | 322,048 |   |   | $ | 338,766 |   |
| Estimated Effective Interest Rate |   |                   | 4.38   | % |   |   | - | % |   |   | 6.71 | % |   |   | 6.93 | % |   |   | 4.81 | % |   |   | 5.86 | % |   |   | 5.90 | % |   |   |   |   |
| Variable Rate:                    |   | $                      | -      |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 115,850 |   |   | $ | 115,850 |   |   | $ | 115,850 |   |
| Estimated Effective Interest Rate |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 0.37 | % |   |   | 0.37 | % |   |   |   |   |
|                              |   |                   |   |   |   |   |   |   |   |   |   |   | Total Debt Outstanding |   |   | $ | 437,898 |   |   | $ | 454,616 |   |
|                              |   |                   |   |   |   |   |   |   |   |   |   |   | Estimated Effective Interest Rate |   |   |   | 4.44 | % |   |   |   |   |

|                              |   | Expected Maturity Date |   |
|-----------------------------------|--------|------------------------|--------|
|                              |   | 2010                   |   |   | 2011 |   |   | 2012 |   | 2013 |   | 2014 |   | Thereafter |   |   | Total |   |   | Fair Value |   |
| Fixed Rate:                       |   | $                      | 24,000 |   |   | $ | - |   |   | $ | 36,000 |   |   | $ | 30,000 |   |   | $ | 14,000 |   |   | $ | 218,047 |   |   | $ | 322,047 |   |   | $ | 332,908 |   |
| Estimated Effective Interest Rate |   |                   | 4.38   | % |   |   | - | % |   |   | 6.71 | % |   |   | 6.93 | % |   |   | 4.81 | % |   |   | 5.86 | % |   |   | 5.90 | % |   |   |   |   |
| Variable Rate:                    |   | $                      | -      |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 115,850 |   |   | $ | 115,850 |   |   | $ | 115,850 |   |
| Estimated Effective Interest Rate |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 0.82 | % |   |   | 0.82 | % |   |   |   |   |
|                              |   |                   |   |   |   |   |   |   |   |   |   |   | Total Debt Outstanding |   |   | $ | 437,897 |   |   | $ | 448,758 |   |
|                              |   |                   |   |   |   |   |   |   |   |   |   |   | Estimated Effective Interest Rate |   |   |   | 4.56 | % |   |   |   |   |

|                              |   | Expected Maturity Date |   |
|-----------------------------------|--------|------------------------|--------|
|                              |   | 2009                   |   |   | 2010 |   |   | 2011 |   | 2012 |   | 2013 |   | Thereafter |   |   | Total |   |   | Fair Value |   |
| Fixed Rate:                       |   | $                      | -      |   |   | $ | 24,000 |   |   | $ | - |   |   | $ | 36,000 |   |   | $ | 30,000 |   |   | $ | 208,045 |   |   | $ | 298,045 |   |   | $ | 279,894 |   |
| Estimated Effective Interest Rate |   |                   | -      | % |   |   | 4.38 | % |   |   | - | % |   |   | 6.71 | % |   |   | 6.92 | % |   |   | 5.79 | % |   |   | 5.90 | % |   |   |   |   |
| Variable Rate:                    |   | $                      | -      |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 115,850 |   |   | $ | 115,850 |   |   | $ | 115,850 |   |
| Estimated Effective Interest Rate |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 1.30 | % |   |   | 1.30 | % |   |   |   |   |
|                              |   |                   |   |   |   |   |   |   |   |   |   |   | Total Debt Outstanding |   |   | $ | 413,895 |   |   | $ | 395,744 |   |
|                              |   |                   |   |   |   |   |   |   |   |   |   |   | Estimated Effective Interest Rate |   |   |   | 4.61 | % |   |   |   |   |

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| ITEM 2 - | Management’s Discussion and Analysis of Financial Condition and Results of Operations |
|----------|---------------------------------------------------------------------------------------------|

|   | (1) | Central Hudson’s regulated electric utility business; |
|--------|-----|-------------------------------------------------------------|

|   | (2) | Central Hudson’s regulated natural gas utility business; |
|--------|-----|----------------------------------------------------------------|

|   | (3) | Griffith’s fuel distribution business; |
|--------|-----|----------------------------------------------|

|   | (4) | CHEC’s investments in renewable energy supply, energy efficiency, an energy sector venture capital fund and the holding company’s activities, which consist primarily of financing its subsidiaries and business development. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | (1) | A portion of the revenues above represent amounts collected from customers for the recovery of purchased electric and natural gas costs at Central Hudson and the cost of purchased petroleum products at Griffith and therefore have no material impact on net income.  A breakout of these components is as follows: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | · | Electric delivery increases of $30.2 million over the three year term with annual delivery rate increases of $11.8 million, $9.3 million and $9.1 million effective July 1, 2010, 2011 and 2012, respectively.  A natural gas delivery rate increase of $9.7 million is to be phased in over three years with annual delivery increases of $5.7 million, $2.4 million and $1.6 million effective July 1, 2010, 2011 and 2012, respectively.  The electric rate increase will be moderated by the continuation of the electric Bill Credit mechanisms from Case 08-E-0887 reduced from $20 million in the current rate year, to $12 million and $4 million in RY1 and RY2, respectively, after which the credit mechanism ceases. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | A common equity ratio of 48% of permanent capital and a base return on common equity of 10% with earnings up to 10.5% retained by Central Hudson. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | The Company, PSC Staff and Multiple Intervenors filed Statements in Support of the Joint Proposal on February 12, 2010. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------|

|   | · | The New York State Consumer Protection Board (“CPB”) filed a Statement Regarding Joint Proposal recommending modifications to clarify the Company’s Low Income Enhanced Powerful Opportunities Program (“EPOP”) section of the Joint Proposal. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | On February 25, 2010, Settlement Hearings were held in Albany, NY to consider EPOP and other portions of the proposed settlement.  DPS Staff, Multiple Intervenors and the Company have filed briefs supporting the settlement, but CPB filed a brief opposing the settlement and making other allegations that the Company believes are unfounded.  Reply Briefs to the CPB’s Post Hearing Brief were filed by Central Hudson, PSC Staff and Multiple Intervenors on April 2, 2010. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | · | On April 6, 2010, the Administrative Law Judge (“ALJ”) issued a Procedural Ruling to request parties provide comments to address whether the Joint Proposal should be modified to provide equal dollar amount increases in the revenue allowances for electric and gas delivery service for each year of the rate plan and to provide relevant rate and bill calculations by April 16, 2010 with Reply Comments due on April 21, 2010. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | A PSC Order regarding the Joint Proposal and establishing a new three year rate plan is expected in the second quarter of 2010.  No prediction can be made regarding the outcome of the matter at this time. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Notable Activity: |
|--------|-------------------|

|   | 2009: |
|--------|-------|

|   | · | Statewide Collaborative Projects: |
|--------|--------|-----------------------------------|

|   | Ø | On October 27, 2009, the DOE notified the New York Independent System Operator (“NYISO”) of its selection for the award of federal stimulus funds to support two projects: a statewide capacitor bank installation and a statewide phasor measurement network, both to be complete with the collaboration of the major New York State electric utilities. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | Ø | The PSC provided the preliminary approval of these two projects in its July 27, 2009 Order in this case which directed each utility to file tariff amendments for a surcharge recovery mechanism upon DOE’s determination on its application. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2010: |
|--------|-------|

|   | Ø | On April 1, 2010, Central Hudson submitted its compliance filing to implement an EDER surcharge to recover the revenue requirement associated with electric delivery and energy reliability projects as authorized by the PSC’s Order that are determined to be eligible for recovery and are not being recovered through the Company’s base rates. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                            |   | Three Months Ended March 31, |   |
|---------------------------------|--------|------------------------------|--------|
|                            |   | 2010                         |   |   | 2009 |   |
| Net Cash Provided By/(Used In): |   |                         |   |
| Operating Activities            |   | $                            | (14.0  | ) |   | $ | 51.1 |   |
| Investing Activities            |   |                         | (13.1  | ) |   |   | (23.2 | ) |
| Financing Activities            |   |                         | 21.2   |   |   |   | (19.4 | ) |
| Net change for the period       |   |                         | (5.9   | ) |   |   | 8.5 |   |
| Balance at beginning of period  |   |                         | 73.4   |   |   |   | 19.8 |   |
| Balance at end of period        |   | $                            | 67.5   |   |   | $ | 28.3 |   |

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|                            |   | Three Months Ended March 31, |   |
|---------------------------------|--------|------------------------------|--------|
|                            |   | 2010                         |   |   | 2009 |   |
| Net Cash Provided By/(Used In): |   |                         |   |
| Operating Activities            |   | $                            | (1.5   | ) |   | $ | 42.2 |   |
| Investing Activities            |   |                         | (13.4  | ) |   |   | (22.8 | ) |
| Financing Activities            |   |                         | 29.7   |   |   |   | (5.9 | ) |
| Net change for the period       |   |                         | 14.8   |   |   |   | 13.5 |   |
| Balance at beginning of period  |   |                         | 4.8    |   |   |   | 2.5 |   |
| Balance at end of period        |   | $                            | 19.6   |   |   | $ | 16.0 |   |

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|   | · | Achieve a positive rate of return for the Plan over the long-term that contributes to meeting the Plan’s current and future obligations, including actuarial interest and benefit payment obligations. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Earn long-term returns from capital appreciation and current income that at least keep pace with inflation over the long term by meeting or exceeding the benchmark index net of fees. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| CH Energy Group Consolidated     |                         |
|----------------------------------|------------------------------|
|                             |                         |   |   |   |   |   |   |   |
| Earnings per Share (Basic)       |                         |
|                             | Three Months Ended March 31, |   |   |   |
|                             | 2010                         |   | 2009 |   | Change |   |
| Central Hudson - Electric        |                         | $ | 0.58 |   |   | $ | 0.40 |   |   | $ | 0.18 |   |
| Central Hudson - Natural Gas     |                         |   | 0.46 |   |   |   | 0.38 |   |   |   | 0.08 |   |
| Griffith                         |                         |   | 0.26 |   |   |   | 0.64 |   |   |   | (0.38 | ) |
| Other Businesses and Investments |                         |   | - |   |   |   | 0.05 |   |   |   | (0.05 | ) |
|                             |                         | $ | 1.30 |   |   | $ | 1.47 |   |   | $ | (0.17 | ) |

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| Central Hudson Earnings per Share (Basic) |                         |
|------------------------------------------------|------------------------------|
|                                           | Three Months Ended March 31, |   |   |   |   |
|                                           | 2010                         |   | 2009 |   | Change |   |
| Electric                                       |                         | $ | 0.58 |   |   | $ | 0.40 |   |   | $ | 0.18 |   |
| Natural Gas                                    |                         |   | 0.46 |   |   |   | 0.38 |   |   |   | 0.08 |   |
|                                           |                         | $ | 1.04 |   |   | $ | 0.78 |   |   | $ | 0.26 |   |

| Rate increases                       |   | $      | 0.40  |   |
|--------------------------------------|--------|--------|-------|--------|
| Revenue decoupling mechanisms        |   |   | 0.03  |   |
| Weather impact on sales              |   |   | (0.08 | )      |
| Weather-normalized sales             |   |   | (0.04 | )      |
| Lower uncollectible accounts reserve |   |   | 0.03  |   |
| Higher storm restoration expense(1)  |   |   | (0.03 | )      |
| Higher depreciation                  |   |   | (0.03 | )      |
| Higher property and other taxes      |   |   | (0.02 | )      |
| Lower trimming                       |   |   | 0.03  |   |
| Other                                |   |   | (0.03 | )      |
|                                 |   | $      | 0.26  |   |

| (1) | Excludes incremental costs incurred associated with the severe storms that occurred in late February 2010, which have been deferred for future recovery from customers. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   |   | Three Months Ended March 31, |   |   |   |   |
|--------|--------|------------------------------|--------|--------|--------|--------|
|   |   | 2010                         |   |   | 2009   |   | Change |   |
|   |   | $                            | 0.26   |   |   | $      | 0.64 |   |   | $ | (0.38 | ) |

| Discontinued operations                           |   | $      | (0.28  | )      |
|---------------------------------------------------|--------|--------|--------|--------|
|                                              |   |   |   |   |
| Margin on petroleum sales and services            |   |   | (0.06  | )      |
| Weather impact on sales (including hedging)       |   |   | (0.02  | )      |
| Weather-normalized sales (including conservation) |   |   | (0.02  | )      |
| Lower uncollectible accounts                      |   |   | 0.02   |   |
| Other                                             |   |   | (0.02  | )      |
|                                              |   | $      | (0.38  | )      |

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|                       |                         |   |   |   |   |   |   |   |   |
|----------------------------|------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|
| Earnings per Share (Basic) |                         |
|                       | Three Months Ended March 31, |   |   |   |   |
|                       |                         | 2010   |   |   | 2009   |   |   | Change |   |
|                       |                         | $      | -      |   |   | $      | 0.05   |   |   | $ | (0.05 | ) |

| Holding company interest expense   |   | $      | (0.03  | )      |
|------------------------------------|--------|--------|--------|--------|
| Investment in future opportunities |   |   | 0.01   |   |
|                               |   |   |   |   |
| Lyonsdale investment               |   |   | (0.01  | )      |
| Cornhusker investment              |   |   | (0.01  | )      |
| Other                              |   |   | (0.01  | )      |
|                               |   | $      | (0.05  | )      |

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| Income Statement Variances                  |   |
|---------------------------------------------|--------|
| (Dollars In Thousands)                      |   |
|                                        |   |   |   |   |   |   |   |   |   |   |   |   |
|                                        |   | Three Months Ended March 31, |   |   | Increase/(Decrease) in |   |
|                                        |   | 2010 |   |   | 2009 |   |   | Amount |   |   | Percent |   |
| Operating Revenues                          |   | $ | 215,049 |   |   | $ | 246,876 |   |   | $ | (31,827 | ) |   |   | (12.9 | )% |
|                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating Expenses:                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Purchased electricity, fuel and natural gas |   |   | 104,522 |   |   |   | 155,348 |   |   |   | (50,826 | ) |   |   | (32.7 | )% |
| Depreciation and amortization               |   |   | 8,414 |   |   |   | 8,009 |   |   |   | 405 |   |   |   | 5.1 | % |
| Other operating expenses                    |   |   | 68,354 |   |   |   | 56,288 |   |   |   | 12,066 |   |   |   | 21.4 | % |
| Total Operating Expenses                    |   |   | 181,290 |   |   |   | 219,645 |   |   |   | (38,355 | ) |   |   | (17.5 | )% |
| Operating Income                            |   |   | 33,759 |   |   |   | 27,231 |   |   |   | 6,528 |   |   |   | 24.0 | % |
| Other Income, net                           |   |   | 802 |   |   |   | 386 |   |   |   | 416 |   |   |   | 107.8 | % |
| Interest Charges                            |   |   | 6,436 |   |   |   | 6,218 |   |   |   | 218 |   |   |   | 3.5 | % |
| Income before income taxes                  |   |   | 28,125 |   |   |   | 21,399 |   |   |   | 6,726 |   |   |   | 31.4 | % |
| Income Taxes                                |   |   | 11,480 |   |   |   | 8,806 |   |   |   | 2,674 |   |   |   | 30.4 | % |
| Net income                                  |   | $ | 16,645 |   |   | $ | 12,593 |   |   | $ | 4,052 |   |   |   | 32.2 | % |

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| (In Megawatt-Hours)  |
|----------------------|
|                 |   |   |   |   |   |
|                 |   | Three Months Ended March 31, |   |   | Increase / (Decrease) in |   |
|                 |   | 2010 |   |   | 2009 |   |   | Amount |   |   | Percent |   |
| Residential          |   |   | 578,687 |   |   |   | 607,561 |   |   |   | (28,874 | ) |   |   | (5 | ) % |
| Commercial           |   |   | 480,680 |   |   |   | 506,689 |   |   |   | (26,009 | ) |   |   | (5 | ) % |
| Industrial and other |   |   | 261,563 |   |   |   | 292,926 |   |   |   | (31,363 | ) |   |   | (11 | ) % |
| Total Deliveries     |   |   | 1,320,930 |   |   |   | 1,407,176 |   |   |   | (86,246 | ) |   |   | (6 | ) % |

| Actual Deliveries - Natural Gas |   |
|---------------------------------|--------|
| (In Thousand Cubic Feet)        |   |
|                            |   |   |   |   |   |
|                            |   | Three Months Ended March 31, |   |   | Increase / (Decrease) in |
|                            |   | 2010 |   |   | 2009 |   |   | Amount |   |   | Percent |   |
| Residential                     |   |   | 2,584,442 |   |   |   | 2,781,743 |   |   |   | (197,301 | ) |   |   | (7 | ) % |
| Commercial                      |   |   | 2,811,152 |   |   |   | 3,029,890 |   |   |   | (218,738 | ) |   |   | (7 | ) % |
| Industrial and other(1)         |   |   | 1,592,401 |   |   |   | 1,413,331 |   |   |   | 179,070 |   |   |   | 13 | % |
| Total Deliveries                |   |   | 6,987,995 |   |   |   | 7,224,964 |   |   |   | (236,969 | ) |   |   | (3 | ) % |

| (1) | Includes interruptible natural gas deliveries. |
|-----|------------------------------------------------|

| Weather Normalized Deliveries - Electric |   |
|------------------------------------------|--------|
| (In Megawatt-Hours)                      |   |
|                                     |   |   |   |   |   |   |   |   |   |   |   |   |
|                                     |   | Three Months Ended March 31, |   |   | Increase / (Decrease) in |
|                                     |   | 2010 |   |   | 2009 |   |   | Amount |   |   | Percent |   |
| Residential                              |   |   | 581,341 |   |   |   | 598,054 |   |   |   | (16,713 | ) |   |   | (3 | ) % |
| Commercial                               |   |   | 480,742 |   |   |   | 504,134 |   |   |   | (23,392 | ) |   |   | (5 | ) % |
| Industrial and other                     |   |   | 261,566 |   |   |   | 292,908 |   |   |   | (31,342 | ) |   |   | (11 | ) % |
| Total Deliveries                         |   |   | 1,323,649 |   |   |   | 1,395,096 |   |   |   | (71,447 | ) |   |   | (5 | ) % |

| Weather Normalized Deliveries - Natural Gas |
|---------------------------------------------|
| (In Thousand Cubic Feet)                    |
|                                        |   |   |   |   |   |
|                                        |   | Three Months Ended March 31, |   |   | Increase / (Decrease) in |
|                                        |   | 2010 |   |   | 2009 |   |   | Amount |   |   | Percent |   |
| Residential                                 |   |   | 2,541,982 |   |   |   | 2,581,663 |   |   |   | (39,681 | ) |   |   | (2 | ) % |
| Commercial                                  |   |   | 2,810,991 |   |   |   | 2,865,300 |   |   |   | (54,309 | ) |   |   | (2 | ) % |
| Industrial and other(2)                     |   |   | 694,755 |   |   |   | 751,838 |   |   |   | (57,083 | ) |   |   | (8 | ) % |
| Total Deliveries                            |   |   | 6,047,728 |   |   |   | 6,198,801 |   |   |   | (151,073 | ) |   |   | (2 | ) % |

| (2) | Excludes interruptible natural gas deliveries. |
|-----|------------------------------------------------|

| Note: | Central Hudson uses an internal analysis based on historical weather data to remove the estimated impacts of weather on delivery volumes. |
|-------|-------------------------------------------------------------------------------------------------------------------------------------------|

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| Change in Central Hudson Revenues - Electric(In Thousands) |   |
|------------------------------------------------------------|--------|
|                                                       |   | Three Months Ended March 31, |   |   | Increase / |   |
|                                                       |   | 2010 |   |   | 2009 |   |   | (Decrease) |   |
| Revenues with Matching Expense Offsets:(1)                 |   |   |   |   |   |   |   |   |   |
| Energy cost adjustment                                     |   | $ | 65,700 |   |   | $ | 89,463 |   |   | $ | (23,763 | ) |
| Sales to others for resale                                 |   |   | 1,174 |   |   |   | 1,060 |   |   |   | 114 |   |
| Other revenues with matching offsets                       |   |   | 19,485 |   |   |   | 12,581 |   |   |   | 6,904 |   |
| Subtotal                                                   |   |   | 86,359 |   |   |   | 103,104 |   |   |   | (16,745 | ) |
|                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Revenues Impacting Earnings:                               |   |   |   |   |   |   |   |   |   |   |   |   |
| Customer sales                                             |   |   | 55,502 |   |   |   | 50,547 |   |   |   | 4,955 |   |
| RDM and other regulatory mechanisms                        |   |   | 1,455 |   |   |   | 810 |   |   |   | 645 |   |
| Pole attachments and other rents                           |   |   | 1,029 |   |   |   | 967 |   |   |   | 62 |   |
| Finance charges                                            |   |   | 810 |   |   |   | 929 |   |   |   | (119 | ) |
| Other revenues                                             |   |   | 807 |   |   |   | 396 |   |   |   | 411 |   |
| Subtotal                                                   |   |   | 59,603 |   |   |   | 53,649 |   |   |   | 5,954 |   |
|                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Electric Revenues                                    |   | $ | 145,962 |   |   | $ | 156,753 |   |   | $ | (10,791 | ) |

| (1) | Revenues with matching offsets do not affect earnings since they offset related costs, the most significant being energy cost adjustment revenues, which provide for the recovery of purchased electricity and natural gas costs.  Other related costs include authorized business expenses recovered through rates and the cost of special programs authorized by the PSC and funded with certain available credits.  Changes in revenues from electric sales to other utilities also do not affect earnings since any related profits or losses are returned or charged, respectively, to customers. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                       |   | Three Months Ended March 31, |   |   | Increase / |   |
|--------------------------------------------|--------|------------------------------|--------|--------|------------|--------|
|                                       |   | 2010                         |   |   | 2009       |   |   | (Decrease) |   |
| Revenues with Matching Expense Offsets:(1) |   |                         |   |   |       |   |   |   |   |
| Energy cost adjustment                     |   | $                            | 28,110 |   |       | $      | 51,794 |   |   | $ | (23,684 | ) |
| Sales to others for resale                 |   |                         | 9,079  |   |       |   | 12,899 |   |   |   | (3,820 | ) |
| Other revenues with matching offsets       |   |                         | 8,260  |   |       |   | 4,817 |   |   |   | 3,443 |   |
| Subtotal                                   |   |                         | 45,449 |   |       |   | 69,510 |   |   |   | (24,061 | ) |
|                                       |   |                         |   |   |       |   |   |   |   |   |   |   |
| Revenues Impacting Earnings:               |   |                         |   |   |       |   |   |   |   |   |   |   |
| Customer sales                             |   |                         | 20,624 |   |       |   | 18,086 |   |   |   | 2,538 |   |
| RDM and other regulatory mechanisms        |   |                         | 1,428  |   |       |   | 1,129 |   |   |   | 299 |   |
| Interruptible profits                      |   |                         | 567    |   |       |   | 302 |   |   |   | 265 |   |
| Finance charges                            |   |                         | 322    |   |       |   | 432 |   |   |   | (110 | ) |
| Other revenues                             |   |                         | 697    |   |       |   | 664 |   |   |   | 33 |   |
| Subtotal                                   |   |                         | 23,638 |   |       |   | 20,613 |   |   |   | 3,025 |   |
|                                       |   |                         |   |   |       |   |   |   |   |   |   |   |
| Total Natural Gas Revenues                 |   | $                            | 69,087 |   |       | $      | 90,123 |   |   | $ | (21,036 | ) |

| (1) | Revenues with matching offsets do not affect earnings since they offset related costs, the most significant being energy cost adjustment revenues, which provide for the recovery of purchased electricity and natural gas costs.  Other related costs include authorized business expenses recovered through rates and the cost of special programs authorized by the PSC and funded with certain available credits.  For natural gas sales to other entities for resale, 85% of such profits are returned to customers. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (In Thousands)                               |   |                         |    |   |       |   |    |       |   |
|----------------------------------------------|--------|------------------------------|---------|--------|------------|--------|---------|------------|--------|
|                                         |   |                         |    |   |       |   |    |       |   |
|                                         |   | Three Months Ended March 31, |    |   | Increase / |   |
|                                         |   | 2010                         |    |   | 2009       |   |    | (Decrease) |   |
| Expenses Currently Matched to Revenues:(1)   |   |                         |    |   |       |   |    |       |   |
| Purchased electricity                        |   | $                            | 66,874  |   |       | $      | 90,523  |       |   | $ | (23,649 | ) |
| Purchased natural gas                        |   |                         | 37,189  |   |       |   | 64,693  |       |   |   | (27,504 | ) |
| PSC tax surcharge                            |   |                         | 5,566   |   |       |   | -       |       |   |   | 5,566 |   |
| Pension                                      |   |                         | 8,779   |   |       |   | 3,546   |       |   |   | 5,233 |   |
| OPEB                                         |   |                         | 2,027   |   |       |   | 2,853   |       |   |   | (826 | ) |
| NYS energy programs                          |   |                         | 5,256   |   |       |   | 5,696   |       |   |   | (440 | ) |
| MGP site remediations                        |   |                         | 795     |   |       |   | 413     |       |   |   | 382 |   |
| Other matched expenses                       |   |                         | 5,320   |   |       |   | 4,888   |       |   |   | 432 |   |
|  Subtotal                               |   |                         | 131,806 |   |       |   | 172,612 |       |   |   | (40,806 | ) |
|                                         |   |                         |    |   |       |   |    |       |   |   |   |   |
| Other Expense Variations:                    |   |                         |    |   |       |   |    |       |   |   |   |   |
| Tree trimming                                |   |                         | 2,576   |   |       |   | 3,428   |       |   |   | (852 | ) |
| Property taxes                               |   |                         | 7,525   |   |       |   | 6,711   |       |   |   | 814 |   |
| Storm restoration expenses(2)                |   |                         | 1,302   |   |       |   | 538     |       |   |   | 764 |   |
| Injuries & damages reserve               |   |                         | 448     |   |       |   | (132    | )          |   |   | 580 |   |
| Depreciation                                 |   |                         | 8,414   |   |       |   | 8,010   |       |   |   | 404 |   |
| Uncollectible expense                        |   |                         | 2,390   |   |       |   | 2,885   |       |   |   | (495 | ) |
| Purchased natural gas incentive arrangements |   |                         | 459     |   |       |   | 132     |       |   |   | 327 |   |
| Other expenses                               |   |                         | 26,370  |   |       |   | 25,461  |       |   |   | 909 |   |
| Subtotal                                     |   |                         | 49,484  |   |       |   | 47,033  |       |   |   | 2,451 |   |
| Total Operating Expenses                     |   | $                            | 181,290 |   |       | $      | 219,645 |       |   | $ | (38,355 | ) |

| (1) | Includes expenses that, in accordance with the 2006 Rate Order and the 2009 Rate Order, are adjusted in the current period to equal the revenues earned for the applicable expenses. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Does not include $19.3 million in incremental costs related to the February 2010 significant storm event deferred for future recovery from customers.  See further discussion below. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Income Statement Variances(Dollars In Thousands)                                             |   |
|----------------------------------------------------------------------------------------------|--------|
|                                                                                         |   |   |   |   |   |   |   |   |   |
|                                                                                         |   | Three Months Ended March 31, |   |   | Increase/(Decrease) in |   |
|                                                                                         |   | 2010 |   |   | 2009 |   |   | Amount |   |   | Percent |   |
| Operating Revenues                                                                           |   | $ | 302,642 |   |   | $ | 322,096 |   |   | $ | (19,454 | ) |   |   | (6.0 | )% |
| Operating Expenses:                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Purchased electricity, fuel, natural gas and petroleum                                       |   |   | 168,570 |   |   |   | 204,465 |   |   |   | (35,895 | ) |   |   | (17.6 | )% |
| Depreciation and amortization                                                                |   |   | 9,924 |   |   |   | 9,366 |   |   |   | 558 |   |   |   | 6.0 |  % |
| Other operating expenses                                                                     |   |   | 82,860 |   |   |   | 71,366 |   |   |   | 11,494 |   |   |   | 16.1 |  % |
| Total Operating Expenses                                                                     |   |   | 261,354 |   |   |   | 285,197 |   |   |   | (23,843 | ) |   |   | (8.4 | )% |
| Operating Income                                                                             |   |   | 41,288 |   |   |   | 36,899 |   |   |   | 4,389 |   |   |   | 11.9 |  % |
| Other Income (Deductions), net                                                               |   |   | 768 |   |   |   | (662 | ) |   |   | 1,430 |   |   |   | (216.0 | )% |
| Interest Charges                                                                             |   |   | 7,308 |   |   |   | 5,854 |   |   |   | 1,454 |   |   |   | 24.8 |  % |
| Income before income taxes, non-controlling interest and preferred dividends of subsidiaries |   |   | 34,748 |   |   |   | 30,383 |   |   |   | 4,365 |   |   |   | 14.4 |  % |
| Income Taxes                                                                                 |   |   | 14,033 |   |   |   | 11,429 |   |   |   | 2,604 |   |   |   | 22.8 |  % |
| Net income from continuing operations                                                        |   |   | 20,715 |   |   |   | 18,954 |   |   |   | 1,761 |   |   |   | 9.3 |  % |
| Net income from discontinued operations, net of tax                                          |   |   | - |   |   |   | 4,377 |   |   |   | (4,377 | ) |   |   | (100.0 | )% |
| Non-controlling interest in subsidiary                                                       |   |   | 35 |   |   |   | (32 | ) |   |   | 67 |   |   |   | (209.4 | )% |
| Dividends declared on Preferred Stock of subsidiary                                          |   |   | 242 |   |   |   | 242 |   |   |   | - |   |   |   | - |  % |
| Net income attributable to CH Energy Group                                                   |   | $ | 20,438 |   |   | $ | 23,121 |   |   | $ | (2,683 | ) |   |   | (11.6 | )% |

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| Actual Deliveries(In Thousands of Gallons) |   |
|--------------------------------------------|--------|
|                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                       |   | Three Months EndedMarch 31, |   |   | Increase /(Decrease) in |   |   | 2010Volumes as % |   |
|                                       |   | 2010 |   |   | 2009 |   |   | Amount |   |   | Percent |   |   | of Total Volume |   |
| Heating Oil                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Retained company volume                    |   |   | 18,243 |   |   |   | 20,461 |   |   |   | (2,218 | ) |   |   | (11 | ) % |   |   | 62 | % |
| Divested volume                            |   |   | - |   |   |   | 19,037 |   |   |   | (19,037 | ) |   |   | (100 | ) % |   |   | - | % |
| Total Heating Oil                          |   |   | 18,243 |   |   |   | 39,498 |   |   |   | (21,255 | ) |   |   | (54 | ) % |   |   | 62 | % |
|                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Motor Fuels                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Retained company volume                    |   |   | 10,574 |   |   |   | 11,115 |   |   |   | (541 | ) |   |   | (5 | ) % |   |   | 36 | % |
| Divested volume                            |   |   | - |   |   |   | 3,134 |   |   |   | (3,134 | ) |   |   | (100 | ) % |   |   | - | % |
| Total Motor Fuels                          |   |   | 10,574 |   |   |   | 14,249 |   |   |   | (3,675 | ) |   |   | (26 | ) % |   |   | 36 | % |
|                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Propane and Other                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Retained company volume                    |   |   | 553 |   |   |   | 579 |   |   |   | (26 | ) |   |   | (4 | ) % |   |   | 2 | % |
| Divested volume                            |   |   | - |   |   |   | 774 |   |   |   | (774 | ) |   |   | (100 | ) % |   |   | - | % |
| Total Propane and Other                    |   |   | 553 |   |   |   | 1,353 |   |   |   | (800 | ) |   |   | (59 | ) % |   |   | 2 | % |
|                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Retained company volume                    |   |   | 29,370 |   |   |   | 32,155 |   |   |   | (2,785 | ) |   |   | (9 | ) % |   |   | 100 | % |
| Divested volume                            |   |   | - |   |   |   | 22,945 |   |   |   | (22,945 | ) |   |   | (100 | ) % |   |   | - | % |
| Total                                      |   |   | 29,370 |   |   |   | 55,100 |   |   |   | (25,730 | ) |   |   | (47 | ) % |   |   | 100 | % |

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| (In Thousands of Gallons) |   |
|---------------------------|--------|
|                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                      |   | Three Months Ended |   |   | Increase / |   |   | 2010 |   |
|                      |   | March 31, |   |   | (Decrease) in |   |   | Volumes as % |   |
|                      |   | 2010 |   |   | 2009 |   |   | Amount |   |   | Percent |   |   | of Total Volume |   |
| Heating Oil               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Retained company volume   |   |   | 17,859 |   |   |   | 19,376 |   |   |   | (1,517 | ) |   |   | (8 | ) % |   |   | 62 | % |
| Divested volume           |   |   | - |   |   |   | 18,116 |   |   |   | (18,116 | ) |   |   | (100 | ) % |   |   | - | % |
| Total Heating Oil         |   |   | 17,859 |   |   |   | 37,492 |   |   |   | (19,633 | ) |   |   | (52 | ) % |   |   | 62 | % |
|                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Motor Fuels               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Retained company volume   |   |   | 10,574 |   |   |   | 11,115 |   |   |   | (541 | ) |   |   | (5 | ) % |   |   | 36 | % |
| Divested volume           |   |   | - |   |   |   | 3,134 |   |   |   | (3,134 | ) |   |   | (100 | ) % |   |   | - | % |
| Total Motor Fuels         |   |   | 10,574 |   |   |   | 14,249 |   |   |   | (3,675 | ) |   |   | (26 | ) % |   |   | 36 | % |
|                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Propane and Other         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Retained company volume   |   |   | 542 |   |   |   | 550 |   |   |   | (8 | ) |   |   | (1 | ) % |   |   | 2 | % |
| Divested volume           |   |   | - |   |   |   | 733 |   |   |   | (733 | ) |   |   | (100 | ) % |   |   | - | % |
| Total Propane and Other   |   |   | 542 |   |   |   | 1,283 |   |   |   | (741 | ) |   |   | (58 | ) % |   |   | 2 | % |
|                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Retained company volume   |   |   | 28,975 |   |   |   | 31,041 |   |   |   | (2,066 | ) |   |   | (7 | ) % |   |   | 100 | % |
| Divested volume           |   |   | - |   |   |   | 21,983 |   |   |   | (21,983 | ) |   |   | (100 | ) % |   |   | - | % |
| Total                     |   |   | 28,975 |   |   |   | 53,024 |   |   |   | (24,049 | ) |   |   | (45 | ) % |   |   | 100 | % |

| Note 1: | Due to a warming trend in actual weather over the past 30 years, Griffith has developed a trend normal weather value.  This trend analysis has resulted in approximately 670 and 150 less heating degree days as compared to a standard 30-year average for Griffith's customers in the Northeast and Mid-Atlantic regions, respectively.  The above chart of weather normalized deliveries was determined using Griffith's trend normal weather value. |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Change in Griffith Revenues(In Thousands)       |   |
|-------------------------------------------------|--------|
|                                            |   |   |   |   |   |   |
|                                            |   | Three Months Ended March 31, |   |   | Increase / |   |
|                                            |   | 2010 |   |   | 2009 |   |   | (Decrease) |   |
| Retained Company                                |   |   |   |   |   |   |   |   |   |
| Heating Oil                                     |   | $ | 53,109 |   |   | $ | 47,505 |   |   | $ | 5,604 |   |
| Motor Fuels                                     |   |   | 25,175 |   |   |   | 19,228 |   |   |   | 5,947 |   |
| Other                                           |   |   | 1,876 |   |   |   | 1,784 |   |   |   | 92 |   |
| Service Revenues                                |   |   | 4,307 |   |   |   | 4,491 |   |   |   | (184 | ) |
| Total Retained Company                          |   | $ | 84,467 |   |   | $ | 73,008 |   |   | $ | 11,459 |   |
|                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| Discontinued Operations(1)                      |   |   |   |   |   |   |   |   |   |   |   |   |
| Heating Oil                                     |   | $ | - |   |   | $ | 44,887 |   |   | $ | (44,887 | ) |
| Motor Fuels                                     |   |   | - |   |   |   | 5,519 |   |   |   | (5,519 | ) |
| Other                                           |   |   | - |   |   |   | 1,655 |   |   |   | (1,655 | ) |
| Service Revenues                                |   |   | - |   |   |   | 4,316 |   |   |   | (4,316 | ) |
| Total Discontinued Operations                   |   | $ | - |   |   | $ | 56,377 |   |   | $ | (56,377 | ) |
|                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| Reconciliation to Income Statement              |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Revenue from discontinued operations      |   | $ | - |   |   | $ | 56,377 |   |   | $ | (56,377 | ) |
| Expenses of discontinued operations             |   |   | - |   |   |   | 48,896 |   |   |   | (48,896 | ) |
| Income tax expense from discontinued operations |   |   | - |   |   |   | 3,104 |   |   |   | (3,104 | ) |
| Net Income from discontinued operations         |   | $ | - |   |   | $ | 4,377 |   |   | $ | (4,377 | ) |

| (1) | The revenue by product line information of the Discontinued Operations is considered a non-GAAP financial measure; however, Management believes this information is useful in understanding the portion of operations disposed of as compared to the business retained.  A reconciliation to net income from Discontinued Operations, the most comparable GAAP measure as shown on the CH Energy Group Consolidated Statement of Income, is provided. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| ITEM 3 – | Quantitative and Qualitative Disclosures About Market Risk |
|----------------|------------------------------------------------------------|

| ITEM 4 – | Controls and Procedures |
|----------------|-------------------------|

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PART 

| ITEM 1 – | Legal Proceedings |
|----------------|-------------------|

| ITEM 1A – | Risk Factors |
|-----------------|--------------|

| ITEM 2 – | Unregistered Sales of Equity Securities and Use of Proceeds |
|----------------|-------------------------------------------------------------|

|            |   | Total Number of Shares Purchased(1) |   |   | Average Price Paid per Share(2) |   |   | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs(3) |   |   | Maximum Number of Shares that May Yet be Purchased Under the Plans or Programs(3) |   |
|-----------------|--------|-------------------------------------|--------|--------|---------------------------------|--------|--------|-------------------------------------------------------------------------------------|--------|--------|-----------------------------------------------------------------------------------|--------|
| Jan. 1-31, 2010 |   |                                | 297    |   |                            | $      | 42.52  |                                                                                |   |   | -                                                                                 |   |   |   | 2,000,000 |   |
| Feb. 1-28, 2010 |   |                                | 637    |   |                            | $      | 38.89  |                                                                                |   |   | -                                                                                 |   |   |   | 2,000,000 |   |
| Total           |   |                                | 934    |   |                            | $      | 40.04  |                                                                                |   |   | -                                                                                 |   |   |   | 2,000,000 |   |

| (1) | Shares surrendered to CH Energy Group in satisfaction of tax withholdings on the vesting of restricted shares and a special grant of shares in February 2010. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Closing price of a share of CH Energy Group's common stock on the date the stock was surrendered to CH Energy Group. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| (3) | On July 31, 2007, the Board of Directors authorized the repurchase of up to 2,000,000 shares or approximately 13% of CH Energy Group's outstanding common stock on that date, from time to time, over the five year period ending July 31, 2012. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ITEM 6 – | Exhibits |
|----------------|----------|

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SIGNATURES

|            | CH ENERGY GROUP, INC.                              |
|-----------------|----------------------------------------------------|
|            | (Registrant)                                       |
|            |                                               |
| By:   | /s/ Kimberly J. Wright                             |
|            | Kimberly J. Wright                                 |
|            | Vice President - Accounting and Controller         |
|            |                                               |
|            |                                               |
|            | CENTRAL HUDSON GAS & ELECTRIC CORPORATION |
|            | (Co-Registrant)                                    |
|            |                                               |
| By:   | /s/ Kimberly J. Wright                             |
|            | Kimberly J. Wright                                 |
|            | Controller                                         |

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EXHIBIT 

| Exhibit No.Regulation S-KItem 601Designation | Exhibit Description                                                                                                                                                                                                                                                                                                                                                    |
|--------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                   |                                                                                                                                                                                                                                                                                                                                                                        |
| 10.1                                                   | Form of CH Energy Group, Inc. Performance Shares Agreement [incorporated herein by reference to Exhibit 10.1 to the Current Report on Form 8-K filed by CH Energy Group, Inc. on February 11, 2010]                                                                                                                                                                         |
|                                                   |                                                                                                                                                                                                                                                                                                                                                                        |
| 10.2                                                   | Form of CH Energy Group, Inc. Restricted Shares Agreement [incorporated herein by reference to Exhibit 10.2 to the Current Report on Form 8-K filed by CH Energy Group, Inc. on February 11, 2010]                                                                                                                                                                          |
|                                                   |                                                                                                                                                                                                                                                                                                                                                                        |
| 10.3                                                   | Distribution Agreement dated March 16, 2010 between Central Hudson Gas & Electric Corporation, and Banc of America Securities LLC, J. P. Morgan Securities Inc. and KeyBanc Capital Markets Inc., as agents [incorporated herein by reference to Exhibit 99 to the Current Report on Form 8-K filed by Central Hudson Gas & Electric Corporation on March 22, 2010] |
|                                                   |                                                                                                                                                                                                                                                                                                                                                                        |
| 10.4                                                   | Supplemental Indenture dated March 16, 2010 to the Indenture dated as of April 1, 1992 between Central Hudson Gas & Electric Corporation and U.S. Bank Trust National Association, as trustee [incorporated herein by reference to Exhibit 99.1 to the Current Report on Form 8-K filed by Central Hudson Gas & Electric Corporation on March 22, 2010]             |
|                                                   |                                                                                                                                                                                                                                                                                                                                                                        |
| 12                                                     | Statements Showing Computation of the Ratio of Earnings to Fixed Charges and the Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends.                                                                                                                                                                                                                 |
|                                                   |                                                                                                                                                                                                                                                                                                                                                                        |
| 31.1                                                   | Rule 13a-14(a)/15d-14(a) Certification by Mr. Lant.                                                                                                                                                                                                                                                                                                               |
|                                                   |                                                                                                                                                                                                                                                                                                                                                                        |
| 31.2                                                   | Rule 13a-14(a)/15d-14(a) Certification by Mr. Capone.                                                                                                                                                                                                                                                                                                             |
|                                                   |                                                                                                                                                                                                                                                                                                                                                                        |
| 32.1                                                   | Section 1350 Certification by Mr. Lant.                                                                                                                                                                                                                                                                                                                           |
|                                                   |                                                                                                                                                                                                                                                                                                                                                                        |
| 32.2                                                   | Section 1350 Certification by Mr. Capone.                                                                                                                                                                                                                                                                                                                         |

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