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| **CH ENERGY GROUP, INC.**                             | **EXHIBIT (12) (i)** |
| **Computation of Ratio of Earnings to Fixed Charges** |                 |
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|   |   |                                                                                                                                                                                                                                                                                                            | 2007   |        | 2006   |        | Year Ended December 31, |   |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|-------------------------|--------|
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|   |   |                                                                                                                                                                                                                                                                                                            |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
|   |   | Earnings: ($000)                                                                                                                                                                                                                                                                                                |   |        |   |   |                         |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |
| A.     |   |     Net Income from Continuing         Operations                                                                                                                                                                                                   | $      | 4,329  |   | $      | 31,216                  |   | $ | 40,962 |   | $ | 10,970 |   | $ | 33,338 |   | $ | 43,084 |   | $ | 44,291 |   | $ | 42,423 |   | $ | 43,985 |   | $ | 36,453 |   |
| B.     |   |     Preferred Stock Dividends                                                                                                                                                                                                                                                               |   | 242    |   |   | 727                     |   |   | 970 |   |   | 242 |   |   | 727 |   |   | 970 |   |   | 970 |   |   | 970 |   |   | 1,387 |   |   | 2,161 |   |
| C.     |   |     Federal and State Income Tax                                                                                                                                                                                                                                                            |   | 1,885  |   |   | 16,141                  |   |   | 20,660 |   |   | 4,392 |   |   | 19,250 |   |   | 23,769 |   |   | 25,819 |   |   | 31,256 |   |   | 30,435 |   |   | 22,294 |   |
|   | Less   |     Income from Equity Investments                                                                                                                                                                                                                                                          |   | 171    |   |   | 1,715                   |   |   | 2,260 |   |   | 334 |   |   | 1,265 |   |   | 1,810 |   |   | 1,456 |   |   | 922 |   |   | 865 |   |   | 749 |   |
|   | Plus   |     Cash Distribution from Equity          Investments                                                                                                                                                                                              |   | 922    |   |   | 2,743                   |   |   | 2,974 |   |   | 734 |   |   | 774 |   |   | 1,005 |   |   | 1,833 |   |   | 1,776 |   |   | 1,249 |   |   | 959 |   |
|   |   |                                                                                                                                                                                                                                                                                                            |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
| D.     |   |     Earnings before Income Taxes          and Equity Inv.                                                                                                                                                                                           | $      | 7,207  |   | $      | 49,112                  |   | $ | 63,306 |   | $ | 16,004 |   | $ | 52,824 |   | $ | 67,018 |   | $ | 71,457 |   | $ | 75,503 |   | $ | 76,191 |   | $ | 61,118 |   |
|   |   |                                                                                                                                                                                                                                                                                                            |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
| E      |   |     Fixed Charges                                                                                                                                                                                                                                                                           |   |   |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   |   |          Interest on Mortgage Bonds                                                                                                                                                                                                                                |   | 0      |   |   | 0                       |   |   | 0 |   |   | 0 |   |   | 0 |   |   | 0 |   |   | 0 |   |   | 0 |   |   | 570 |   |   | 2,136 |   |
|   |   |          Interest on Other Long-             Term Debt                                                                                                                                                 |   | 4,616  |   |   | 13,603                  |   |   | 17,889 |   |   | 4,115 |   |   | 12,139 |   |   | 16,425 |   |   | 13,826 |   |   | 11,488 |   |   | 10,699 |   |   | 9,819 |   |
|   |   |          Other Interest                                                                                                                                                                                                                                            |   | 1,323  |   |   | 3,302                   |   |   | 4,076 |   |   | 1,105 |   |   | 2,848 |   |   | 3,622 |   |   | 2,577 |   |   | 5,517 |   |   | 9,828 |   (1) |   | 11,659 |   |
|   |   |          Interest Portion of Rents (2)                                                                                                                                                                                                                             |   | 297    |   |   | 891                     |   |   | 1,205 |   |   | 271 |   |   | 798 |   |   | 1,112 |   |   | 1,077 |   |   | 1,192 |   |   | 1,040 |   |   | 749 |   |
|   |   |          Amortization of Premium &              Expense on Debt                                                                                                                                    |   | 236    |   |   | 720                     |   |   | 976 |   |   | 245 |   |   | 735 |   |   | 991 |   |   | 1,043 |   |   | 1,066 |   |   | 1,159 |   |   | 1,249 |   |
|   |   |          Preferred Stock Dividends                 Requirements of Central                  Hudson |   | 363    |   |   | 1,066                   |   |   | 1,400 |   |   | 332 |   |   | 1,074 |   |   | 1,409 |   |   | 1,458 |   |   | 1,594 |   |   | 2,243 |   |   | 3,346 |   |
|   |   |                                                                                                                                                                                                                                                                                                            |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
|   |   |                         Total Fixed Charges                                                                                                                                             | $      | 6,835  |   | $      | 19,582                  |   | $ | 25,546 |   | $ | 6,068 |   | $ | 17,594 |   | $ | 23,559 |   | $ | 19,981 |   | $ | 20,857 |   | $ | 25,539 |   | $ | 28,958 |   |
|   |   |                                                                                                                                                                                                                                                                                                            |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
|   | Less   |   Preferred Stock Dividends           Requirements          of Central Hudson                                                                                                                     |   | 363    |   |   | 1,066                   |   |   | 1,400 |   |   | 332 |   |   | 1,074 |   |   | 1,409 |   |   | 1,458 |   |   | 1,594 |   |   | 2,243 |   |   | 3,346 |   |
|   |   |                                                                                                                                                                                                                                                                                                            |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
|   |   |                                                                                                                                                                                                                                                                                                            |   |   |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| F      |   |     Total Earnings                                                                                                                                                                                                                                                                          | $      | 13,679 |   | $      | 67,628                  |   | $ | 87,452 |   | $ | 21,740 |   | $ | 69,344 |   | $ | 89,168 |   | $ | 89,980 |   | $ | 94,766 |   | $ | 99,487 |   | $ | 86,730 |   |
|   |   |                                                                                                                                                                                                                                                                                                            |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
|   |   |                                                                                                                                                                                                                                                                                                            |   |   |   |   |                    |   |   |   |   |   |
|   |   | Preferred Dividend Requirements:                                                                                                                                                                                                                                                                                |   |   |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| G.     |   |     Allowance for Preferred Stock           Dividends Under IRC Sec 247                                                                                                                                                                   | $      | 242    |   | $      | 727                     |   | $ | 970 |   | $ | 242 |   | $ | 727 |   | $ | 970 |   | $ | 970 |   | $ | 970 |   | $ | 1,387 |   (1) | $ | 2,161 |   |
| H.     |   |     Less Allowable Dividend         Deduction                                                                                                                                                                                                       |   | (32    | )      |   | (96                     | )      |   | (127 | ) |   | (32 | ) |   | (96 | ) |   | (127 | ) |   | (127 | ) |   | (127 | ) |   | (127 | ) |   | (127 | ) |
|   |   |                                                                                                                                                                                                                                                                                                            |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
| I.     |   |     Net Subject to Gross-up                                                                                                                                                                                                                                                                 |   | 210    |   |   | 631                     |   |   | 843 |   |   | 210 |   |   | 631 |   |   | 843 |   |   | 843 |   |   | 843 |   |   | 1,260 |   |   | 2,034 |   |
| J.     |   |     Ratio of Earnings before Income         Taxes and Equity Inv. to Net              Income (D/(A+B))                                                                             |   | 1.577  |   |   | 1.537                   |   |   | 1.510 |   |   | 1.427 |   |   | 1.551 |   |   | 1.521 |   |   | 1.579 |   |   | 1.740 |   |   | 1.679 |   |   | 1.583 |   |
|   |   |                                                                                                                                                                                                                                                                                                            |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
| K.     |   |     Preferred Dividend   (Pre-tax) (I x J)                                                                                                                                                                                                                                        |   | 331    |   |   | 970                     |   |   | 1,273 |   |   | 300 |   |   | 978 |   |   | 1,282 |   |   | 1,331 |   |   | 1,467 |   |   | 2,116 |   |   | 3,219 |   |
| L.     |   |     Plus Allowable Dividend          Deduction                                                                                                                                                                                                      |   | 32     |   |   | 96                      |   |   | 127 |   |   | 32 |   |   | 96 |   |   | 127 |   |   | 127 |   |   | 127 |   |   | 127 |   |   | 127 |   |
|   |   |                                                                                                                                                                                                                                                                                                            |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
| M.     |   |     Preferred Dividend Factor                                                                                                                                                                                                                                                               |   | 363    |   |   | 1,066                   |   |   | 1,400 |   |   | 332 |   |   | 1,074 |   |   | 1,409 |   |   | 1,458 |   |   | 1,594 |   |   | 2,243 |   |   | 3,346 |   |
|   |   |                                                                                                                                                                                                                                                                                                            |        |   |        |   |                         |   |  |   |  |   |  |   |  |   |  |   |  |   |  |   |
|   |   |                                                                                                                                                                                                                                                                                                            |   |   |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| N.     |   |     Ratio of Earnings to Fixed          Charges   (F/E)                                                                                                                                                                                   |   | 2.0    |   |   | 3.5                     |   |   | 3.4 |   |   | 3.6 |   |   | 3.9 |   |   | 3.8 |   |   | 4.5 |   |   | 4.5 |   |   | 3.9 |   |   | 3.0 |   |
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| (1)    | Reflects SFAS No. 150 titled Accounting for Certain Financial Instruments with Characteristics of both Liabilities and Equity, reclassification    of $208,750 in preferred stock dividends to interest expense for the quarter ended September 30, 2003. |
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| (2)    | The percentage of rent included in the fixed charges calculation is a reasonable approximation of the interest factor.                                                                                                                                    |