<PAGE>
Rule 424(b)(2)
File No. 33-56349
PRICING SUPPLEMENT NO. 1, DATED SEPTEMBER 2, 1998
(To Prospectus Dated April 4, 1995, as supplemented by a Prospectus
Supplement Dated August 24, 1998)
CENTRAL HUDSON GAS & ELECTRIC CORPORATION
Medium-Term Notes, Series B
Principal Amount($): $15,000,000
Original Issue Date: September 8, 1998
Issue Price(%): 100%
Stated Maturity: September 10, 2001
Interest Rate(%): 5.93%
Interest Payment Dates: each January 1 and July 1, and at
Maturity
Agents' Discount or Commission(%): .350%
Net Proceeds to the Company
(before deducting expenses)($): $14,947,500
Authorized denominations: $1,000 and integral multiples
thereof
Form: Book-Entry [X] Certificated [ ]
(Note: Payments of interest on Book-Entry Notes will be made by wire
transfer to the registered holder thereof, which will be the nominee
of The Depository Trust Company.)
CUSIP No. 15361G AC 9
Redemption:
[X] The Offered Notes cannot be redeemed prior to Stated
Maturity.
[ ] The Offered Notes may be redeemed in whole, at any
time, or in part, from time to time, prior to Stated
Maturity.
Initial Redemption Date: N/A
Initial Redemption Price: N/A
Reduction Percentage: N/A
Redemption Limitation Date: N/A
Additional Terms: None
THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE
SECURITIES AND EXCHANGE COMMISSION OR BY ANY STATE SECURITIES
COMMISSION NOR HAS THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE
SECURITIES COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THIS
PRICING SUPPLEMENT OR THE APPLICABLE PROSPECTUS OR PROSPECTUS
SUPPLEMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
</PAGE>
