NEW YORK (AP) -- The president and chief executive of electric and natural gas utility NiSource Inc. received compensation valued at $2.2 million in 2007, more than double his earnings a year ago.

The Merrillville, Ind.-based company paid Robert C. Skaggs Jr. a base salary of $750,000, which was the same amount he made in base pay in 2006, according to the proxy statement filed Friday with the Securities and Exchange Commission.

The large increase in Skaggs' compensation resulted from $1.35 million in restricted stock he received. In 2006, the company did not award Skaggs any stock or stock options.

Besides salary and stock, NiSource paid Skaggs $61,316 in all other compensation, which included contributions to defined contribution and 401(k) retirement plans, as well as $7,983 in financial consulting payments, $2,441 in relocation expenses, $3,469 for his spouse's travel costs and $2,298 in tax reimbursements.

Skaggs' total pay package in 2006 was valued at $826,091, according to a calculation by The Associated Press.

The AP's total pay calculations include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. The calculations don't include changes in the present value of pension benefits, and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the Securities and Exchange Commission.

In 2007, the company reported a profit of $331.4 million, or $1.21 per share, compared with $282.2 million, or $1.03 per share, in 2006. Revenue rose 5 percent to $3.28 billion.