POUGHKEEPSIE – CH Energy Group plans to narrow its focus into the development of alternative energies to just two types – wind and landfill gas projects.

Company Board Chairman, President and CEO Steven Land told a shareholders conference call Thursday there are specific reasons for the plan.

“We believe wind and landfill gas projects, if properly structured, can produce stable and predictable revenue streams through the sale of electricity or natural gas, to credit worthy counterparties at known prices over a long-term period,” he said. “We also believe the output levels in capital and operating costs can be predicted and managed such that year to year volatility in earnings is acceptable.”

The company also released its yearend earnings report showing CH Energy Group annual earnings for 2009 totaled $2.76 per share, compared with $2.22 per share during 2008, an increase of 54 cents per share.

That is “an excellent recovery from the depressed levels of 2008,” Lant said.

For Central Hudson Gas and Electric Corporation, the business unit earned $2.02 per share in 2009, an increase of 35 cents over the $1.67 per share posted in 2008.

Lant credited the improvement primarily to improved cost recovery through delivery rates, though he said higher uncollectible accounts, depreciation, property taxes and other expenses offset much of the increased revenue.  He also said the absence of major storms and the resulting lower expense of restoring service to electric customers contributed nine cents to year-over-year performance.