A blend of high and low density polyethylene was aged at 160 °C in air and the impact of the chosen aging protocol on local chemistry, crystallinity and charge transport dynamics was considered. The aging conditions were chosen in order to exploit oxygen diffusion effects, such that the resulting systems could be considered as bi-layer specimens, containing two regions: a uniform lightly aged layer and a more spatially varying highly aged layer, which vary in the concentrations of aging-related defects such as carbonyl groups and unsaturation. For aging periods up to 3 h, little space charge was found within both the highly and lightly aged layers. However, after aging for about 3.5 h, an abrupt change in behavior was observed, whereby charges move rapidly through the highly aged layer, accumulating at the interface with the lightly aged layer. Sample melting behavior, as determined by differential scanning calorimetry, was found to depend on aging time, as a result of impeded crystallization and retarded reorganization kinetics. We suggest that this abrupt change in charge transport behavior is a consequence of the local concentration of chemically related trapping sites exceeding some critical threshold. The consequence of the resulting space charge distribution is a dramatic increase in the local electric field across the lightly aged layer and a consequent reduction in the overall DC breakdown strength. However, while further aging exacerbates these space charge effects, counter to expectations, the breakdown strength then recovers somewhat, suggesting a change in the underlying mechanism of electrical failure.