ex12_2.htm

EXHIBIT 12.2

CENTRAL HUDSON GAS & ELECTRIC CORPORATION

Computation of Ratio of Earnings to Fixed Charges and

Ratio of Earnings to Fixed Charges and Preferred Dividends

		2010						2009			Year Ended December 31,
		3 Months			12 Months			3 Months
		Ended			Ended			Ended
	Earnings: ($000)	Dec 31			Dec 31			Dec 31			2009			2008			2007			2006			2005
A.	Net income	$	9,744		$	46,118		$	10,094		$	32,776		$	27,238		$	33,436		$	34,871		$	35,635
B.	Federal and State Income Tax		2,501			26,626			5,080			21,142			19,273			20,326			21,528			23,936
C.	Earnings before Income Taxes	$	12,245		$	72,744		$	15,174		$	53,918		$	46,511		$	53,762		$	56,399		$	59,571
D.	Fixed Charges
	Interest on Other-Long-Term Debt		5,374			19,745			4,967			18,830			20,518			18,653			16,425			13,826
	Other Interest		1,487			5,413			1,430			5,253			4,495			4,378			3,622			2,577
	Interest Portion of Rents(1)		152			678			144			635			788			898			818			835
	Amortization of Premium & Expense on Debt		238			913			224			956			982			963			991			1,043
	Total Fixed Charges	$	7,251		$	26,749		$	6,765		$	25,674		$	26,783		$	24,892		$	21,856		$	18,281

E.	Total Earnings	$	19,496		$	99,493		$	21,939		$	79,592		$	73,294		$	78,654		$	78,255		$	77,852

	Preferred Dividend Requirements:
F.	Allowance for Preferred Stock Dividends Under IRC Sec. 247	$	242		$	970		$	242		$	970		$	970		$	970		$	970		$	970
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			843
I.	Ratio of Earnings before Income Taxes to Net Income (C/A)		1.257			1.577			1.503			1.645			1.708			1.608			1.617			1.672
J.	Preferred Dividend (Pre-tax) (H x I)		265			1,329			317			1,387			1,440			1,356			1,363			1,409
K.	Plus Allowable Dividend Deduction		31			127			31			127			127			127			127			127
L.	Preferred Dividend Factor		296			1,456			348			1,514			1,567			1,483			1,490			1,536
M.	Fixed Charges (D)		7,251			26,749			6,765			25,674			26,783			24,892			21,856			18,281
N.	Total Fixed Charges and Preferred Dividends	$	7,547		$	28,205		$	7,113		$	27,188		$	28,350		$	26,375		$	23,346		$	19,817

O.	Ratio of Earnings to Fixed Charges (E/D)		2.7			3.7			3.2			3.1			2.7			3.2			3.6			4.3
P.	Ratio of Earnings to Fixed Charges and Preferred Dividends (E/N)		2.6			3.5			3.1			2.9			2.6			3.0			3.4			3.9