We present an analysis of the ionospheric electric field dynamics at high latitudes during periods of quiet and disturbed geomagnetic activity by exploiting recent advancements in dynamical systems and extreme value theory. Specifically, we employed two key indicators: the instantaneous dimension d, which evaluates the degrees of freedom within the system, and the extremal index θ, which quantifies the system’s persistence in a given state. Electric field measurements were obtained from the CSES-01 satellite at mid- and high latitudes in the Southern Hemisphere. Our analysis revealed that the instantaneous dimension increases upon crossing specific ionospheric regions corresponding to the auroral oval boundaries. Outside these regions, the instantaneous dimension fluctuates around the state-space dimension, suggesting an ergodic nature of the system. As geomagnetic activity intensifies, differences in the properties of various ionospheric regions persist, albeit with an increased system instability characterized by higher θ values, thus indicating the externally driven nature of the electric field response to geomagnetic activity. This study provides new insights into the spatial and temporal variability of electric field fluctuations in the ionosphere, highlighting the complex interplay between geomagnetic conditions and ionospheric dynamics.