The technique the US Military uses to destroy enemy power grids is to detonate a ball of long stringy aluminum confetti/Mylar above the enemy power substations. The destruction is apparently substantial.
Check out Mylar balloons and power lines (lots of compilations on YouTube if you don’t believe me.
Over a substation I could see it causing a lot more damage though.
It's a bit more subtle than that. As far as I understand, the thin wire might melt, but its vaporized remnants would be enough to keep an arc going between the phases or a phase and the ground. Then the protection devices at both ends of the line would detect the short circuit, turn off the line, wait for a bit of time (enough for the vaporized remnants and ionized air to disperse), and turn the line on again automatically. Since most high-voltage power grids have redundant circuits, it's likely that no consumer would lose power even for a moment.