CH Energy Group, Inc. : CH Energy Group, Inc. Reports 2012 Annual Earnings

  CH Energy Group, Inc. : CH Energy Group, Inc. Reports 2012 Annual Earnings



                                                                  News Release

                                                             February 26, 2013
                                       For Release: Immediately
       Contact: Investors: Stacey A. Renner, (845)
                                                                      486-5730
    News Media: Denise D. VanBuren, (845)
                                                                      471-8323

                 CH Energy Group Reports 2012 Annual Earnings

(Poughkeepsie, NY) CH Energy Group, Inc.  (NYSE:CHG) filed its Report on  Form 
10-K with the  U.S. Securities  and Exchange  Commission yesterday,  reporting 
consolidated earnings of $2.61 per share for the year ended December 31, 2012.
Earnings from regulated utility Central  Hudson Gas & Electric Corporation  of 
$3.10 cents per share were partially offset by costs related to the sale of CH
Energy Group to Fortis Inc. (TSX:FTS).
"Last June, our  shareholders overwhelmingly approved  the Fortis proposal  to 
purchase CH Energy Group  for $65 per  share in a  transaction valued at  $1.5 
billion. Approval by the New York  State Public Service Commission is now  the 
only remaining regulatory authorization necessary to complete the  transaction 
and allow  us to  move  forward to  become  a part  of  the Fortis  family  of 
utilities," said Chairman of the Board, President and C.E.O. Steven V. Lant.
Lant noted that Fortis, Central Hudson, the Staff of Public Service Commission
and other  parties reached  an  agreement of  terms  related to  the  proposed 
transaction in  January 2013;  that joint  proposal was  then filed  with  the 
Public Service Commission for its consideration. "While no assurances can be
given, we  anticipate  that the  Public  Service Commission  will  review  and 
approve the transaction in the second quarter of 2013 and that a closing  with 
Fortis will occur shortly thereafter," Lant said.
 CH Energy  Group's Report  on Form  10-K is  available in  the SEC  Filings 
section of the Investor Relations page at www.CHEnergyGroup.com.

                          # # #

About CH  Energy  Group,  Inc.:  CH Energy  Group,  Inc.  is  predominantly  a 
regulated   transmission   and   distribution   utility,   headquartered    in 
Poughkeepsie,  NY.   Central   Hudson   Gas   &   Electric   Corporationserves 
approximately 300,000 electric and about 75,000 natural gas customers in eight
counties of New York State's  Mid-Hudson River Valley, delivering natural  gas 
and electricity in  a 2,600-square-mile service  territory that extends  north 
from the suburbs  of metropolitan  New York City  to the  Capital District  at 
Albany. CH Energy Group also operates Central Hudson Enterprises  Corporation 
(CHEC), a  non-regulated  subsidiary  composed primarily  of  Griffith  Energy 
Services, which supplies energy products and services to approximately  56,000 
customers in the  Mid Atlantic  Region, as  well as  several renewable  energy 
investments.

Forward-Looking Statements -
Statements included in this  Quarterly Report on Form  10-Q and any  documents 
incorporated by reference which are not  historical in nature are intended  to 
be, and are hereby identified as, "forward-looking statements" for purposes of
the safe harbor provided by Section  21E of the Exchange Act.  Forward-looking 
statements may  be identified  by  words including  "anticipates,"  "intends," 
"estimates," "believes," "projects,"  "expects," "plans," "assumes,"  "seeks," 
and  similar  expressions.  Forward-looking  statements  including,   without 
limitation, those relating to  CH Energy Group's  and Central Hudson's  future 
business  prospects,   revenues,   proceeds,   working   capital,   investment 
valuations, liquidity, income, and  margins, as well as  the acquisition by  a 
subsidiary of Fortis  Inc. and  the expected  timing of  the transaction,  are 
subject to certain risks and uncertainties that could cause actual results  to 
differ materially from those indicated in the forward-looking statements,  due 
to several important factors, including those identified from time to time  in 
the forward-looking statements. Those factors include, but are not limited to:
the possibility that various conditions  precedent to the consummation of  the 
proposed  Fortis  transaction  will  not  be  satisfied  or  waived  including 
regulatory approvals  of the  proposed Fortis  transaction on  the timing  and 
terms thereof; the impact of delay or failure to complete the proposed  Fortis 
transaction on CH Energy  Group stock price;  deviations from normal  seasonal 
weather and storm activity; fuel  prices; energy supply and demand;  potential 
future acquisitions;  legislative, regulatory,  and competitive  developments; 
interest rates;  access to  capital; market  risks; electric  and natural  gas 
industry restructuring and cost recovery;  the ability to obtain adequate  and 
timely rate relief; changes  in fuel supply or  costs including future  market 
prices for energy, capacity, and ancillary services; the success of strategies
to satisfy electricity, natural gas,  fuel oil, and propane requirements;  the 
outcome of pending litigation and certain environmental matters,  particularly 
the  status  of  inactive  hazardous  waste  disposal  sites  and  waste  site 
remediation requirements; and certain presently unknown or unforeseen factors,
including, but not limited to, acts of terrorism. CH Energy Group and Central
Hudson  undertake  no  obligation  to  update  publicly  any   forward-looking 
statements, whether  as  a  result  of  new  information,  future  events,  or 
otherwise. Given these uncertainties, undue reliance should not be placed  on 
the forward-looking statements.

Additional Information about the Fortis Transaction and Where to Find It
In connection with the proposed acquisition  of CH Energy Group by Fortis,  CH 
Energy Group filed a definitive proxy statement  with the SEC on May 9,  2012, 
and has filed other  relevant materials with the  SEC as well. Investors  and 
security holders of CH Energy Group are urged to read the proxy statement  and 
other relevant materials  filed with  the SEC because  they contain  important 
information about the proposed acquisition and related matters. Investors and
stock shareholders  may obtain  a free  copy of  the proxy  statement when  it 
becomes available, and other documents filed by CH Energy Group, at the  SEC's 
Web site, www.sec.gov. These documents can also be obtained by investors  and 
stockholders free of charge from CH Energy Group at CH Energy Group's  website 
at www.chenergygroup.com,  or  by  contacting CH  Energy  Group's  Shareholder 
Relations Department at (845) 486-5204.





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Source: CH Energy Group, Inc. via Thomson Reuters ONE
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