In 2016, the World Economic Forum examined three major trends transforming the energy system: decentralization, digitalization and electrification. Building on this work, in 2017 a general framework of guidelines was published, to design policy, business models and infrastructure development in the context of this transformation. Subsequently, Germán Arce Zapata, Minister of Mines and Energy of Colombia, launched an initiative to implement this framework in Colombia. Through public-private sector working groups, and in cooperation with the Forum, Colombia identified priorities for the modernization of its electricity system. As of 2018, progress has been made in establishing the mechanisms to implement smart metering systems, as well as demand response programmes and integration of decentralized energy resources. In the next phase of the global initiative, the Forum plans to replicate the Colombia model in new markets around the world and scale this country-specific, multistakeholder approach to shaping policy, infrastructure and business models. Additionally, the initiative will integrate the new complementary framework, published by the Forum in 2018, providing recommendations to develop electrification of transport in cities, where energy, mobility and urban transformations converge. This whitepaper presents the Colombia case study and a general model that can be replicated in other countries.