Ocean acidification is a major threat to calcifying marine organisms such as deep-sea cold-water corals (CWCs), but related knowledge is scarce. The aragonite saturation threshold (Ω a) for calcification, respiration and organic matter fluxes were investigated experimentally in the Mediterranean Madrepora oculata. Over 10 weeks, colonies were maintained under two feeding regimes (uptake of 36.75 and 7.46 µmol C polyp −1 week −1) and exposed in 2 week intervals to a consecutively changing air–CO 2 mix (pCO 2) of 400, 1600, 800, 2000 and 400 ppm. There was a significant effect of feeding on calcification at initial ambient pCO 2 , while with consecutive pCO 2 treatments, feeding had no effect on calcification. Respiration was not significantly affected by feeding or pCO 2 levels. Coral skeletons started to dissolve at an average Ω a threshold of 0.92, but recovered and started to calcify again at Ω a ≥1. The surplus energy required to counteract dissolution at elevated pCO 2 (≥1600 µatm) was twice that at ambient pCO 2. Yet, feeding had no mitigating effect at increasing pCO 2 levels. This could be due to the fact that the energy required for calcification is a small fraction (1–3%) of the total metabolic energy demand and corals even under low food conditions might therefore still be able to allocate this small portion of energy to calcification. The response and resistance to ocean acidification are consequently not controlled by feeding in this species, but more likely by chemical reactions at the site of calcification and exchange processes between the calicoblastic layer and ambient seawater.