CH Energy group posts gains in 2009

Poughkeepsie-based CH Energy Group reported $44.3 million in net income for 2009, an increase of $8 million over 2008.  The parent company of Central Hudson Gas and Electric did have lower revenues due to lower energy commodity prices.

Shareholders of CH Energy Group (NYSE: CHG) earned a total of $2.76 per share in 2009, an increase of 45 cents per share over 2008. Steven Lant, chairman of the board, president and CEO, said in a statement that its operating subsidiaries, Central Hudson Electric & Gas and Griffith Energy Services, both posted increases last year and the earnings increase was primarily due to a new rate plan approved by the Public Service Commission on July 1, 2009.