CH ENERGY GROUP, INC.

Computation of Ratio of Earnings to Fixed Charges EXHIBIT (12)(I)

			2008						2007			Year Ended December 31,
			3 Months Ended March 31			12 Months Ended March 31			3 Months Ended March 31			2007			2006			2005			2004			2003
		Earnings: ($000)
A.		Net Income from Continuing Operations	$	19,301		$	40,239		$	21,698		$	42,636		$	43,084		$	44,291		$	42,423		$	43,985
B.		Preferred Stock Dividends		242			970			242			970			970			970			970			1,387
C.		Federal and State Income Tax		11,937			20,872			12,963			21,898			23,769			25,819			31,256			30,435
	Less	Income from Equity Investments		269			969			1,195			1,895			1,810			1,456			922			865
	Plus	Cash Distribution from Equity Investments		417			2,573			1,271			3,427			1,315			1,833			1,776			1,249
D.		Earnings before Income Taxes and Equity Inv.	$	31,628		$	63,685		$	34,979		$	67,036		$	67,328		$	71,457		$	75,503		$	76,191
E.		Fixed Charges
		Interest on Mortgage Bonds		0			0			0			0			0			0			0			570
		Interest on Other Long-Term Debt		5,089			19,250			4,492			18,653			16,425			13,826			11,488			10,699
		Other Interest		1,202			4,589			992			4,379			3,622			2,577			5,517			9,828
		Interest Portion of Rents (1)		350			1,325			303			1,278			1,112			1,077			1,192			1,040
		Amortization of Premium & Expense on Debt		244			962			245			963			991			1,043			1,066			1,159
		Preferred Stock Dividends Requirements of Central Hudson		372			1,430			367			1,423			1,415			1,458			1,594			2,243
		Total Fixed Charges	$	7,257		$	27,556		$	6,399		$	26,696		$	23,565		$	19,981		$	20,857		$	25,539
	Less	Preferred Stock Dividends Requirements of Central Hudson		372			1,430			367			1,423			1,415			1,458			1,594			2,243
F.		Total Earnings	$	38,513		$	89,811		$	41,011		$	92,309		$	89,478		$	89,980		$	94,766		$	99,487
		Preferred Dividend Requirements:
G.		Allowance for Preferred Stock Dividends Under IRC Sec. 247	$	242		$	970		$	242		$	970		$	970		$	970		$	970		$	1,387
H.		Less Allowable Dividend Deduction		(31	)		(127	)		(32	)		(127	)		(127	)		(127	)		(127	)		(127	)
I.		Net Subject to Gross-up		211			843			210			843			843			843			843			1,260
J.		Ratio of Earnings before Income Taxes and Equity Inv. To Net Income (D/(A+B)		1.618			1.545			1.594			1.537			1.528			1.579			1.740			1.679
K.		Preferred Dividend (Pre-tax) (I x J)		341			1,303			335			1,296			1,288			1,331			1,467			2,116
L.		Plus Allowable Dividend Deduction		31			127			32			127			127			127			127			127
M.		Preferred Dividend Factor		372			1,430			367			1,423			1,415			1,458			1,594			2,243
N.		Ratio of Earnings to Fixed Charges (F/E)		5.3			3.3			6.4			3.5			3.8			4.5			4.5			3.9

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

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