CENTRAL HUDSON GAS & ELECTRIC
 CORPORATIONComputation of Ratio of Earnings to Fixed
 Chargesand Ratio of Earnings to Fixed Charges and
 Preferred Dividends
EXHIBIT 12
 (i) (i)


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|   |  |  |                                                                   |  | 2008                    |        | 2007                     |   | Year Ended December 31, |  
|   |  |  |                                                                   |  |                         |        |                          |   |                         |  
|   |  |  |                                                                   |  | 3 Months
 Ended
 Dec 31 |        | 12 Months
 Ended
 Dec 31 |   | 3 Months
 Ended
 Dec 31 |   | 2007 |        | 2006 |   | 2005   |   | 2004 |        | 2003 |  
|   |  |  |                                                                   |  |                         |        |                          |   |                         |   |      |        |      |   |        |   |      |        |      |  
|   |  |  | Earnings: ($000)                                                  |  |                         |        |                          |   |                         |   |      |        | 2006 |   |        |   |      |        |      |  
|A. |  |  | Net income                                                        |  | $                       | 5,173  |                          | $ | 27,238                  |   | $    | 8,697  |      | $ | 33,436 |   | $    | 34,871 |      | $ | 35,635 |   | $ | 38,648 |   | $ | 38,875 |  
|B. |  |  | Federal and State Income
Tax                                      |  |                         | 4,061  |                          |   | 19,273                  |   |      | 5,294  |      |   | 20,326 |   |      | 21,528 |      |   | 23,936 |   |   | 28,426 |   |   | 26,981 |  
|   |  |  |                                                                   |  |                         |        |                          |   |                         |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|C. |  |  | Earnings before Income
Taxes                                      |  | $                       | 9,234  |                          | $ | 46,511                  |   | $    | 13,991 |      | $ | 53,762 |   | $    | 56,399 |      | $ | 59,571 |   | $ | 67,074 |   | $ | 65,856 |  
|   |  |  |                                                                   |  |                         |        |                          |   |                         |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|D. |  |  | Fixed Charges                                                     |  |                         |        |                          |   |                         |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|   |  |  | Interest on Mortgage
Bonds                                        |  |                         |       |                          |   |                        |   |      |       |      |   |       |   |      |       |      |   |       |   |   |       |   |   | 570    |  
|   |  |  | Interest on Other-Long-Term
Debt                                  |  |                         | 5,454  |                          |   | 20,518                  |   |      | 5,051  |      |   | 18,653 |   |      | 16,425 |      |   | 13,826 |   |   | 11,488 |   |   | 10,699 |  
|   |  |  | Other Interest                                                    |  |                         | 1,196  |                          |   | 4,495                   |   |      | 1,077  |      |   | 4,378  |   |      | 3,622  |      |   | 2,577  |   |   | 5,517  |   |   | 9,828  |  
|   |  |  | Interest Portion of
Rents(1)                                      |  |                         | 128    |                          |   | 788                     |   |      | 275    |      |   | 898    |   |      | 818    |      |   | 835    |   |   | 954    |   |   | 768    |  
|   |  |  | Amortization of Premium &
Expense
 on Debt                        |  |                         | 250    |                          |   | 982                     |   |      | 243    |      |   | 963    |   |      | 991    |      |   | 1,043  |   |   | 1,066  |   |   | 1,159  |  
|   |  |  |                                                                   |  |                         |        |                          |   |                         |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|   |  |  | Total Fixed Charges                                               |  | $                       | 7,028  |                          | $ | 26,783                  |   | $    | 6,646  |      | $ | 24,892 |   | $    | 21,856 |      | $ | 18,281 |   | $ | 19,025 |   | $ | 23,024 |  
|   |  |  |                                                                   |  |                         |        |                          |   |                         |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|   |  |  |                                                                   |  |                         |        |                          |   |                         |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|E. |  |  | Total Earnings                                                    |  | $                       | 16,262 |                          | $ | 73,294                  |   | $    | 20,637 |      | $ | 78,654 |   | $    | 78,255 |      | $ | 77,852 |   | $ | 86,099 |   | $ | 88,880 |  
|   |  |  |                                                                   |  |                         |        |                          |   |                         |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|   |  |  |                                                                   |  |                         |        |                          |   |                         |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|   |  |  | Preferred Dividend
Requirements:                                  |  |                         |        |                          |   |                         |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|F. |  |  | Allowance for Preferred Stock
Dividends
 Under IRC Sec. 247       |  | $                       | 242    |                          | $ | 970                     |   | $    | 242    |      | $ | 970    |   | $    | 970    |      | $ | 970    |   | $ | 970    |   | $ | 1,387  |  
|G. |  |  | Less Allowable Dividend
Deduction                                 |  |                         | (31    | )                        |   | (127                    | ) |      | (31    | )    |   | (127   | ) |      | (127   | )    |   | (127   | ) |   | (127   | ) |   | (127   | )
|   |  |  |                                                                   |  |                         |        |                          |   |                         |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|H. |  |  | Net Subject to
Gross-Up                                           |  |                         | 211    |                          |   | 843                     |   |      | 211    |      |   | 843    |   |      | 843    |      |   | 843    |   |   | 843    |   |   | 1,260  |  
|I. |  |  | Ratio of Earnings before Income
Taxes
 to Net Income (C/A)        |  |                         | 1.785  |                          |   | 1.708                   |   |      | 1.609  |      |   | 1.608  |   |      | 1.617  |      |   | 1.672  |   |   | 1.736  |   |   | 1.694  |  
|   |  |  |                                                                   |  |                         |        |                          |   |                         |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|J. |  |  | Preferred Dividend (Pre-tax) (H x
I)                              |  |                         | 377    |                          |   | 1,440                   |   |      | 339    |      |   | 1,356  |   |      | 1,363  |      |   | 1,409  |   |   | 1,463  |   |   | 2,134  |  
|K. |  |  | Plus Allowable Dividend
Deduction                                 |  |                         | 31     |                          |   | 127                     |   |      | 31     |      |   | 127    |   |      | 127    |      |   | 127    |   |   | 127    |   |   | 127    |  
|   |  |  |                                                                   |  |                         |        |                          |   |                         |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|L. |  |  | Preferred Dividend
Factor                                         |  |                         | 408    |                          |   | 1,567                   |   |      | 370    |      |   | 1,483  |   |      | 1,490  |      |   | 1,536  |   |   | 1,590  |   |   | 2,261  |  
|M. |  |  | Fixed Charges (D)                                                 |  |                         | 7,028  |                          |   | 26,783                  |   |      | 6,646  |      |   | 24,892 |   |      | 21,856 |      |   | 18,281 |   |   | 19,025 |   |   | 23,024 |  
|   |  |  |                                                                   |  |                         |        |                          |   |                         |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|N. |  |  | Total Fixed Charges and
Preferred Dividends                       |  | $                       | 7,436  |                          | $ | 28,350                  |   | $    | 7,016  |      | $ | 26,375 |   | $    | 23,346 |      | $ | 19,817 |   | $ | 20,615 |   | $ | 25,285 |  
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|   |  |  |                                                                   |  |                         |        |                          |   |                         |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|O. |  |  | Ratio of Earnings to Fixed
Charges
 (E/D)                         |  |                         | 2.3    |                          |   | 2.7                     |   |      | 3.1    |      |   | 3.2    |   |      | 3.6    |      |   | 4.3    |   |   | 4.5    |   |   | 3.9    |  
|   |  |  |                                                                   |  |                         |        |                          |   |                         |   |      |        |      |   |        |   |      |        |      |   |        |   |   |        |   |   |        |  
|P. |  |  | Ratio of Earnings to Fixed
Charges and
 Preferred Dividends (E/N) |  |                         | 2.2    |                          |   | 2.6                     |   |      | 2.9    |      |   | 3.0    |   |      | 3.4    |      |   | 3.9    |   |   | 4.2    |   |   | 3.5    |  
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(1)
The percentage of rent included in the
 fixed charges calculation is a reasonable approximation of the interest
 factor.