CENTRAL HUDSON GAS & ELECTRIC CORPORATION

Computation of Ratio of Earnings to Fixed Charges
and Ratio of Earnings to Fixed Charges and Preferred Dividends EXHIBIT (12)(I)(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	$	11,747		$	31,812		$	13,371		$	33,436		$	34,871		$	35,635		$	38,648		$	38,875
B.	Federal & State Income Tax		8,262			20,160			8,428			20,326			21,528			23,936			28,426			26,981
C.	Earnings before Income Taxes	$	20,009		$	51,972		$	21,799		$	53,762		$	56,399		$	59,571		$	67,074		$	65,856
D.	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		1,014			4,400			992			4,378			3,622			2,577			5,517			9,828
	Interest Portion of Rents (1)		245			923			220			898			818			835			954			768
	Amortization of Premium & Expense on Debt		244			962			245			963			991			1,043			1,066			1,159
	Total Fixed Charges	$	6,592		$	25,535		$	5,949		$	24,892		$	21,856		$	18,281		$	19,025		$	23,024
E.	Total Earnings	$	26,601		$	77,507		$	27,748		$	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	)		(126	)		(32	)		(127	)		(127	)		(127	)		(127	)		(127	)
H.	Net Subject to Gross-up		211			844			210			843			843			843			843			1,260
I.	Ratio of Earnings before Income Taxes to Net Income (C/A)		1.703			1.634			1.630			1.608			1.617			1.672			1.736			1.694
J.	Pref. Dividend (Pre-tax) (H x I)		359			1,379			342			1,356			1,363			1,409			1,463			2,134
K.	Plus Allowable Dividend Deduction		31			126			32			127			127			127			127			127
L.	Preferred Dividend Factor		390			1,505			374			1,483			1,490			1,536			1,590			2,261
M.	Fixed Charges (D)		6,592			25,535			5,949			24,892			21,856			18,281			19,025			23,024
N.	Total Fixed Charges and Preferred Dividends	$	6,982		$	27,040		$	6,323		$	26,375		$	23,346		$	19,817		$	20,615		$	25,285
O.	Ratio of Earnings to Fixed Charges (E/D)		4.0			3.0			4.7			3.2			3.6			4.3			4.5			3.9
P.	Ratio of Earnings to Fixed Charges and Preferred Dividends (E/N)		3.8			2.9			4.4			3.0			3.4			3.9			4.2			3.5

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

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