Schedule 1

      Term Sheet  dated  November  13,  2006  containing  the final terms of the
Specified  Notes  substantially  in the form set forth in  Schedule 2 hereto and
filed with the  Commission  under Rule 433 under the Act  (Issuer  Free  Writing

                                                      Filed Pursuant to Rule 433
                                                     Registration No. 333-116286

                          Central Hudson Gas & Electric
                     $27 mm 5.764% Due 17 November 2031 MTN

Issuer:                    Central Hudson Gas & Electric

Market Type:               Sr. Unsecured MTN

Ratings:                   A2/A/A  (stable/stable/stable)

Principal Amount:          $27 million

Trade Date:                November 13, 2006

Settlement Date:           November 17, 2006 (T+4)

Final Maturity:            November 17, 2031

Interest Payment Dates:    March 1 and September 1, and at maturity

1st Coupon Payment Date:   March 1, 2007

Coupon:                    5.764%

US Treasury Benchmark:     UST 4.50% due Feb-2036

US Treasury Yield:         4.714%

Business day convention:   30/360

Re-offer Price:            100.00%

Fees:                      0.750%

Proceeds to Issuer:        99.250% (equals $26,797,500)

Redemption:                100.00 %

Denomination:              $1,000 x $1,000

Joint Bookrunners:         Citigroup Global Markets Inc.              $9,000,000

                           J.P. Morgan Securities Inc.                $9,000,000

                           KeyBanc Capital Markets,                   $9,000,000
                           a division of McDonald Investments Inc.

CUSIP:                     15361GAP0

The security ratings above are not a recommendation to buy, sell or hold the
securities hereby. The ratings may be subject to revision or withdrawal at any
time by Moody's Investors Service and Standard & Poor's Ratings Services. Each
of the security ratings above should be evaluated independently of any other
security rating.

The issuer has filed a registration statement (including a prospectus) with the
SEC for the offering to which this communication relates. Before you invest, you
should read the prospectus in that registration statement and other documents
the issuer has filed with the SEC for more complete information about the issuer
and this offering. You may get these documents for free by visiting EDGAR on the
SEC Web site at Alternatively, the issuer, any underwriter or any
dealer participating in the offering will arrange to send you the prospectus if
you request it by calling toll-free 1-877-858-5407 at Citigroup Global Markets
Inc., 1-212-834-4533 at J.P. Morgan Securities Inc., and 1-866-227-6479 at
KeyBanc Capital Markets.