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)
 
 2009
              
              
              2008
              
              
              Year
      Ended December 31,3
      Months
              
              
              12
      Months
              
              
              3
      MonthsEnded
              
              
              Ended
              
              
              EndedEarnings:
      ($000)
              
              Dec
      31
              
              
              Dec
      31
              
              
              Dec
      31
              
              
              2008
              
              
              2007
              
              
              2006
              
              
              2005
              
              
              2004A.
              Net
      income
              
              $
              10,094
              
              
              $
              32,776
              
              
              $
              5,173
              
              
              $
              27,238
              
              
              $
              33,436
              
              
              $
              34,871
              
              
              $
              35,635
              
              
              $
              38,648B.
              Federal
      and State Income Tax
              
              
              5,080
              
              
              
              21,142
              
              
              
              4,061
              
              
              
              19,273
              
              
              
              20,326
              
              
              
              21,528
              
              
              
              23,936
              
              
              
              28,426C.
              Earnings
      before Income Taxes
              
              $
              15,174
              
              
              $
              53,918
              
              
              $
              9,234
              
              
              $
              46,511
              
              
              $
              53,762
              
              
              $
              56,399
              
              
              $
              59,571
              
              
              $
              67,074D.
              Fixed
      ChargesInterest
      on Other-Long-Term Debt
              
              
              4,967
              
              
              
              18,830
              
              
              
              5,454
              
              
              
              20,518
              
              
              
              18,653
              
              
              
              16,425
              
              
              
              13,826
              
              
              
              11,488Other
      Interest
              
              
              1,430
              
              
              
              5,253
              
              
              
              1,196
              
              
              
              4,495
              
              
              
              4,378
              
              
              
              3,622
              
              
              
              2,577
              
              
              
              5,517Interest
      Portion of Rents(1)
              
              
              144
              
              
              
              635
              
              
              
              128
              
              
              
              788
              
              
              
              898
              
              
              
              818
              
              
              
              835
              
              
              
              954Amortization
      of Premium & Expense on Debt
              
              
              224
              
              
              
              956
              
              
              
              250
              
              
              
              982
              
              
              
              963
              
              
              
              991
              
              
              
              1,043
              
              
              
              1,066Total
      Fixed Charges
              
              $
              6,765
              
              
              $
              25,674
              
              
              $
              7,028
              
              
              $
              26,783
              
              
              $
              24,892
              
              
              $
              21,856
              
              
              $
              18,281
              
              
              $
              19,025E.
              Total
      Earnings
              
              $
              21,939
              
              
              $
              79,592
              
              
              $
              16,262
              
              
              $
              73,294
              
              
              $
              78,654
              
              
              $
              78,255
              
              
              $
              77,852
              
              
              $
              86,099Preferred
      Dividend Requirements:F.
              Allowance
      for Preferred Stock Dividends Under IRC Sec. 247
              
              $
              242
              
              
              $
              970
              
              
              $
              242
              
              
              $
              970
              
              
              $
              970
              
              
              $
              970
              
              
              $
              970
              
              
              $
              970G.
              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
              
              
              
              843I.
              Ratio
      of Earnings before Income Taxes to Net Income (C/A)
              
              
              1.503
              
              
              
              1.645
              
              
              
              1.785
              
              
              
              1.708
              
              
              
              1.608
              
              
              
              1.617
              
              
              
              1.672
              
              
              
              1.736J.
              Preferred
      Dividend (Pre-tax)
                (H x I)
              
              
              317
              
              
              
              1,387
              
              
              
              377
              
              
              
              1,440
              
              
              
              1,356
              
              
              
              1,363
              
              
              
              1,409
              
              
              
              1,463K.
              Plus
      Allowable Dividend Deduction
              
              
              31
              
              
              
              127
              
              
              
              31
              
              
              
              127
              
              
              
              127
              
              
              
              127
              
              
              
              127
              
              
              
              127L.
              Preferred
      Dividend Factor
              
              
              348
              
              
              
              1,514
              
              
              
              408
              
              
              
              1,567
              
              
              
              1,483
              
              
              
              1,490
              
              
              
              1,536
              
              
              
              1,590M.
              Fixed
      Charges (D)
              
              
              6,765
              
              
              
              25,674
              
              
              
              7,028
              
              
              
              26,783
              
              
              
              24,892
              
              
              
              21,856
              
              
              
              18,281
              
              
              
              19,025N.
              Total
      Fixed Charges and Preferred Dividends
              
              $
              7,113
              
              
              $
              27,188
              
              
              $
              7,436
              
              
              $
              28,350
              
              
              $
              26,375
              
              
              $
              23,346
              
              
              $
              19,817
              
              
              $
              20,615O.
              Ratio
      of Earnings to Fixed Charges (E/D)
              
              
              3.2
              
              
              
              3.1
              
              
              
              2.3
              
              
              
              2.7
              
              
              
              3.2
              
              
              
              3.6
              
              
              
              4.3
              
              
              
              4.5P.
              Ratio
      of Earnings to Fixed Charges and Preferred Dividends (E/N)
              
              
              3.1
              
              
              
              2.9
              
              
              
              2.2
              
              
              
              2.6
              
              
              
              3.0
              
              
              
              3.4
              
              
              
              3.9
              
              
              
              4.2
  (1)
              The
      percentage of rent included in the fixed charges calculation is a
      reasonable approximation of the interest
factor.