-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 ByPBKMszfZB9xhuRYeTdG13xsdHR+IddmJekcOq+8p2xzqJ2pj/sYdaD8euT+5bI
 KBCJazqiJxKKQPBsGji/SQ==

<SEC-DOCUMENT>0001181431-10-054492.txt : 20101109
<SEC-HEADER>0001181431-10-054492.hdr.sgml : 20101109
<ACCEPTANCE-DATETIME>20101109191220
ACCESSION NUMBER:		0001181431-10-054492
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20101105
FILED AS OF DATE:		20101109
DATE AS OF CHANGE:		20101109

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INERGY L P
		CENTRAL INDEX KEY:			0001136352
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-NONSTORE RETAILERS [5960]
		IRS NUMBER:				431918951
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	BUSINESS ADDRESS:	
		STREET 1:		TWO BRUSH CREEK
		STREET 2:		SUITE 200
		CITY:			KANSAS CITY
		STATE:			MO
		ZIP:			64112
		BUSINESS PHONE:		8168428181

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KRAUSE ARTHUR B
		CENTRAL INDEX KEY:			0001233523

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34664
		FILM NUMBER:		101177791
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd290464.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-11-05</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001136352</issuerCik>
        <issuerName>INERGY L P</issuerName>
        <issuerTradingSymbol>NRGY</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001233523</rptOwnerCik>
            <rptOwnerName>KRAUSE ARTHUR B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>TWO BRUSH CREEK BOULEVARD, SUITE 200</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>KANSAS CITY</rptOwnerCity>
            <rptOwnerState>MO</rptOwnerState>
            <rptOwnerZipCode>64112</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>Director of Inergy GP, LLC</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Units</value>
            </securityTitle>
            <transactionDate>
                <value>2010-11-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>62340</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>86399</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Units</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2500</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>As Co-Trustee of the Meljay C. Krause Revocable Trust</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Units</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>20313</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>As Co-Trustee of the Arthur B. Krause Revocable Trust</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Acquired pursuant to the First Amended and Restated Agreement and Plan of Merger, dated as of September 3, 2010 (the &quot;Merger Agreement&quot;), by and among Inergy, L.P. (&quot;Inergy&quot;), Inergy GP, LLC, Inergy Holdings, L.P. (&quot;Holdings&quot;), Inergy Holdings GP, LLC, NRGP Limited Partner, LLC and NRGP MS, LLC.  Acquired 62,340 common units representing limited partner interests in Inergy on November 5, 2010 pursuant to the Merger Agreement in exchange for 80,961 Holdings common units.  On the effective date of the merger, the closing sales price of Holdings common units on the NYSE was $30.71, and the closing sales price of Inergy common units on the NYSE was $39.95 per unit.</footnote>
        <footnote id="F2">Includes Inergy restricted units acquired pursuant to the Merger Agreement.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Michael K. Post (attorney-in-fact) for Arthur B. Krause</signatureName>
        <signatureDate>2010-11-09</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----