Production cost of torrefied pellets is 95.54 compared to 88.09 € t−1 for conventional. Energy specific cost is 5.22 and 5.58 € GJ−1 respectively. Calculated market prices are 133.44 € and 115.34 € per tonne. Production of torrefied pellets is not economically viable. Conventional pellets cut CO2 at lower cost.