Co-combustion by fuel blending of peat and biomass has shown positive effects on operational problems. However, peat ash compositions vary considerably, and this has been shown to affect the potential for operational problems in different fuel-blending situations. The present work used three different peat types with the objective to elucidate how the variation in peat ash composition influences both particle emissions and slag formation during co-combustion with three different biomasses in a small-scale pellet boiler. Estimations of potassium release and slag formation were performed and discussed in relation to fuel composition in the (K2O + Na2O) (CaO + MgO) (SiO2) system. All tested peat types reduced the fine particle emissions by capturing potassium into the bottom ash as one or several of the following forms: slag, sulfates, chlorides, and alumina silicates. However, there were considerable differences between the peat types, presumably depending upon both their content and mineral composition of silicon, calcium, aluminum, and sulfur. Some general important and beneficial properties of peat type in co-combustion situations with biomass are defined here, but the specific blending proportion of peat should be decided on an individual basis for each scenario based on the relative contents in the fuel mixture of the most relevant ash-forming elements.