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

|                  |   | 2009                                                                                    |   |   | 2008           |   |   | Year      Ended December 31, |   |
|-----------------------|--------|-----------------------------------------------------------------------------------------|--------|--------|----------------|--------|--------|------------------------------|--------|
|                  |   | 3      Months                                                                           |   |   | 12      Months |   |   | 3      Months                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                  |   | Ended                                                                                   |   |   | Ended          |   |   | Ended                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings:      ($000) |   | Dec      31                                                                             |   |   | Dec      31    |   |   | Dec      31                  |   |   | 2008 |   |   | 2007 |   |   | 2006 |   |   | 2005 |   |   | 2004 |   |
| A.                    |   | Net      income from Continuing Operations                                              |   | $      | 9,827          |   |   | $                            | 34,427 |   |   | $ | 7,753 |   |   | $ | 32,609 |   |   | $ | 42,004 |   |   | $ | 44,173 |   |   | $ | 44,619 |   |   | $ | 42,438 |   |
| B.                    |   | Preferred      Stock Dividends                                                          |   |   | 242            |   |   |                         | 970    |   |   |   | 242 |   |   |   | 970 |   |   |   | 970 |   |   |   | 970 |   |   |   | 970 |   |   |   | 970 |   |
| C.                    |   | Federal      and State Income Tax                                                       |   |   | 10,231         |   |   |                         | 27,383 |   |   |   | 7,727 |   |   |   | 21,829 |   |   |   | 21,898 |   |   |   | 23,769 |   |   |   | 25,819 |   |   |   | 31,256 |   |
|                  | Less   | Income      from Equity Investments                                                     |   |   | 227            |   |   |                         | 229    |   |   |   | 109 |   |   |   | 568 |   |   |   | 1,895 |   |   |   | 1,810 |   |   |   | 1,456 |   |   |   | 922 |   |
|                  | Plus   | Cash      Distribution from Equity Investments                                          |   |   | 308            |   |   |                         | 1,775  |   |   |   | 169 |   |   |   | 2,463 |   |   |   | 3,427 |   |   |   | 1,315 |   |   |   | 1,833 |   |   |   | 1,776 |   |
| D.                    |   | Earnings      before Income Taxes and Equity Investments                                |   | $      | 20,381         |   |   | $                            | 64,326 |   |   | $ | 15,782 |   |   | $ | 57,303 |   |   | $ | 66,404 |   |   | $ | 68,417 |   |   | $ | 71,785 |   |   | $ | 75,518 |   |
| E.                    |   | Fixed      Charges                                                                      |   |   |           |   |   |                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                  |   | Interest      on Other-Long-Term Debt                                                   |   |   | 5,770          |   |   |                         | 20,999 |   |   |   | 5,454 |   |   |   | 20,518 |   |   |   | 18,653 |   |   |   | 16,425 |   |   |   | 13,826 |   |   |   | 11,488 |   |
|                  |   | Other      Interest                                                                     |   |   | 1,447          |   |   |                         | 3,996  |   |   |   | 1,229 |   |   |   | 5,054 |   |   |   | 4,379 |   |   |   | 3,622 |   |   |   | 2,577 |   |   |   | 5,517 |   |
|                  |   | Interest      Portion of Rents(1)                                                       |   |   | 251            |   |   |                         | 1,043  |   |   |   | 241 |   |   |   | 1,220 |   |   |   | 1,278 |   |   |   | 1,112 |   |   |   | 1,077 |   |   |   | 1,192 |   |
|                  |   | Amortization      of Premium & Expense on Debt                                      |   |   | 224            |   |   |                         | 956    |   |   |   | 250 |   |   |   | 982 |   |   |   | 963 |   |   |   | 991 |   |   |   | 1,043 |   |   |   | 1,066 |   |
|                  |   | Preferred      Stock Dividends Requirements of Central Hudson                           |   |   | 458            |   |   |                         | 1,659  |   |   |   | 385 |   |   |   | 1,525 |   |   |   | 1,423 |   |   |   | 1,405 |   |   |   | 1,454 |   |   |   | 1,594 |   |
|                  |   | Total      Fixed Charges                                                                |   | $      | 8,150          |   |   | $                            | 28,653 |   |   | $ | 7,559 |   |   | $ | 29,299 |   |   | $ | 26,696 |   |   | $ | 23,555 |   |   | $ | 19,977 |   |   | $ | 20,857 |   |
|                  | Less   | Preferred      Stock Dividends Requirements of Central Hudson                           |   |   | 458            |   |   |                         | 1,659  |   |   |   | 385 |   |   |   | 1,525 |   |   |   | 1,423 |   |   |   | 1,405 |   |   |   | 1,454 |   |   |   | 1,594 |   |
| F.                    |   | Total      Earnings                                                                     |   | $      | 28,073         |   |   | $                            | 91,320 |   |   | $ | 22,956 |   |   | $ | 85,077 |   |   | $ | 91,677 |   |   | $ | 90,567 |   |   | $ | 90,308 |   |   | $ | 94,781 |   |
|                  |   |                                                                                    |   |   |           |   |   |                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                  |   | Preferred      Dividend Requirements:                                                   |   |   |           |   |   |                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| G.                    |   | Allowance      for Preferred Stock Dividends Under IRC Sec. 247                         |   | $      | 242            |   |   | $                            | 970    |   |   | $ | 242 |   |   | $ | 970 |   |   | $ | 970 |   |   | $ | 970 |   |   | $ | 970 |   |   | $ | 970 |   |
| H.                    |   | Less      Allowable Dividend Deduction                                                  |   |   | (31            | )      |   |                         | (127   | ) |   |   | (31 | ) |   |   | (127 | ) |   |   | (127 | ) |   |   | (127 | ) |   |   | (127 | ) |   |   | (127 | ) |
| I.                    |   | Net      Subject to Gross-Up                                                            |   |   | 211            |   |   |                         | 843    |   |   |   | 211 |   |   |   | 843 |   |   |   | 843 |   |   |   | 843 |   |   |   | 843 |   |   |   | 843 |   |
| J.                    |   | Ratio      of Earnings before Income Taxes and Equity Inv. To Net Income      (D/(A+B)) |   |   | 2.024          |   |   |                         | 1.817  |   |   |   | 1.974 |   |   |   | 1.707 |   |   |   | 1.545 |   |   |   | 1.516 |   |   |   | 1.575 |   |   |   | 1.740 |   |
| K.                    |   | Preferred      Dividend (Pre-tax) (I x J)                                               |   |   | 427            |   |   |                         | 1,532  |   |   |   | 417 |   |   |   | 1,439 |   |   |   | 1,303 |   |   |   | 1,278 |   |   |   | 1,327 |   |   |   | 1,467 |   |
| L.                    |   | Plus      Allowable Dividend Deduction                                                  |   |   | 31             |   |   |                         | 127    |   |   |   | 31 |   |   |   | 127 |   |   |   | 127 |   |   |   | 127 |   |   |   | 127 |   |   |   | 127 |   |
| M.                    |   | Preferred      Dividend Factor                                                          |   | $      | 458            |   |   | $                            | 1,659  |   |   | $ | 448 |   |   | $ | 1,566 |   |   | $ | 1,430 |   |   | $ | 1,405 |   |   | $ | 1,454 |   |   | $ | 1,594 |   |
|                  |   |                                                                                    |   |   |           |   |   |                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| N.                    |   | Ratio      of Earnings to Fixed Charges (F/E)                                           |   |   | 3.4            |   |   |                         | 3.2    |   |   |   | 3.0 |   |   |   | 2.9 |   |   |   | 3.4 |   |   |   | 3.8 |   |   |   | 4.5 |   |   |   | 4.5 |   |

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