"Temperatures will be just above freezing so, yes, it's going to be cold," said Bill Vejdegren of the Danish Meteorological Institute.
The Red Hot Chili Peppers were nominated in four categories, including best album, while Madonna, Shakira, Nelly Furtado, Christina Aguilera, Kanye West and Muse had three nominations each.
Justin Timberlake, the host of the show, was nominated in the best male artist category, which also included West and Robbie Williams. In the best female artist category, Madonna was competing with Beyonce, Aguilera, Furtado and Shakira.
Presenters were to include Daniel Craig, star of the latest James Bond film, "Casino Royale," R&B singer Cassie, Johnny Knoxville and the Sugababes.
The awards, held in a different city every year, were selected by fans across Europe.
This year's show in Copenhagen was split between the Bella Center convention hall, which holds 3,000 people, and an outdoor venue at the city's main square, where at least 10,000 fans were expected for the two-hour show.
Timberlake was to host the main show from the Bella Center, while Snoop Dogg, Keene, The Killers and Jet, among others, were set to perform on the main square.
The show was to be broadcast live to 17 countries with a potential 1.4 billion viewers.
Fans would be able to watch the show online and choose among three concurrent video streams: the main show from the convention hall, the city hall square performance and a special Web show with live backstage comments by the artists.