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

		2011									2010						Year Ended December 31,
		3 Months			9 Months			12 Months			3 Months			9 Months
		Ended			Ended			Ended			Ended			Ended
	Earnings: ($000)	Sept 30			Sept 30			Sept 30			Sept 30			Sept 30			2010			2009			2008			2007			2006
A.	Net income	$	11,665		$	31,676		$	41,420		$	9,740		$	36,374		$	46,118		$	32,776		$	27,238		$	33,436		$	34,871
B.	Federal and State Income Tax		7,853			20,858			23,359			6,311			24,125			26,626			21,142			19,273			20,326			21,528
C.	Earnings before Income Taxes	$	19,518		$	52,534		$	64,779		$	16,051		$	60,499		$	72,744		$	53,918		$	46,511		$	53,762		$	56,399
D.	Fixed Charges
	Interest on Other-Long-Term Debt		5,872			17,668			23,042			4,785			14,371			19,745			18,830			20,518			18,653			16,425
	Other Interest		1,369			3,919			5,405			1,086			3,927			5,413			5,253			4,495			4,378			3,622
	Interest Portion of Rents(1)		182			542			694			183			526			678			635			788			898			818
	Amortization of Premium & Expense on Debt		261			820			1,058			227			675			913			956			982			963			991
	Total Fixed Charges	$	7,684		$	22,949		$	30,199		$	6,281		$	19,499		$	26,749		$	25,674		$	26,783		$	24,892		$	21,856

E.	Total Earnings	$	27,202		$	75,483		$	94,978		$	22,332		$	79,998		$	99,493		$	79,592		$	73,294		$	78,654		$	78,255

	Preferred Dividend Requirements:
F.	Allowance for Preferred Stock Dividends Under IRC Sec. 247	$	242		$	727		$	970		$	242		$	727		$	970		$	970		$	970		$	970		$	970
G.	Less Allowable Dividend Deduction		(32	)		(96	)		(127	)		(32	)		(96	)		(127	)		(127	)		(127	)		(127	)		(127	)
H.	Net Subject to Gross-Up		210			631			843			210			631			843			843			843			843			843
I.	Ratio of Earnings before Income Taxes to Net Income (C/A)		1.673			1.658			1.564			1.648			1.663			1.577			1.645			1.708			1.608			1.617
J.	Preferred Dividend (Pre-tax) (H x I)		351			1,046			1,318			346			1,049			1,329			1,387			1,440			1,356			1,363
K.	Plus Allowable Dividend Deduction		32			96			127			32			96			127			127			127			127			127
L.	Preferred Dividend Factor		383			1,142			1,445			378			1,145			1,456			1,514			1,567			1,483			1,490
M.	Fixed Charges (D)		7,684			22,949			30,199			6,281			19,499			26,749			25,674			26,783			24,892			21,856
N.	Total Fixed Charges and Preferred Dividends	$	8,067		$	24,091		$	31,644		$	6,659		$	20,644		$	28,205		$	27,188		$	28,350		$	26,375		$	23,346

O.	Ratio of Earnings to Fixed Charges (E/D)		3.5			3.3			3.2			3.6			4.1			3.7			3.1			2.7			3.2			3.6
P.	Ratio of Earnings to Fixed Charges and Preferred Dividends (E/N)		3.4			3.1			3.0			3.4			3.9			3.5			2.9			2.6			3.0			3.4