An analysis is presented for the possibility of metal dispersion, driven by the development of thermodynamic instabilities of its physical state in the vicinity of the critical point in an electrical explosion of conductors (EEC). A new geometrical configuration of conductors, arranged in a thin-walled cylindrical shell on a rigid dielectric cylinder with axially guided, internal return current is proposed. This constrains the part played by instabilities of non-thermodynamic origin and provides the required power density distributed uniformly in the conductor. For metals of the aluminum and copper type, the rates of heating have been estimated, which ensure homogeneous vaporization as the key factor governing the mechanism of liquid metal dispersion during the development of thermodynamic instabilities in the material. Directions in which magnetohydrodynamic (MHD) modeling of high-power electrical discharge in EEC should be pursued in the development of optimal regimes for energy injection into the conductor are outlined. Processes governing condensation of explosion products in an aqueous environment in the case of the particles being electrically charged and involved in chemical interaction with supercritical fluids have been analyzed. The method of synthesis proposed will eventually permit the production of oxide nanoparticles which differ from nanoparticles of the same oxides synthesized in electrical discharge in air and other oxygen-containing gas media, as well as in hydrothermal synthesis employed in its classical methodological implementation.