Using the SuperThermal Electron Transport (STET) model coupled with the Super‐thermal Proton Electron Atomic Hydrogen—tRansport in the Ionosphere and Thermosphere (SPEAH‐RIT) codes, we demonstrate that temporal variability of ionospheric conductance is defined by several time scales: the temporal variations of the magnetospheric source, the start time of electron precipitation, and the termination of the corresponding source. In these cases, the time scales are defined by dissipation of energetic electrons and effective recombination processes. The results presented in this paper were applied in the regions of pulsating aurora and polar arcs, demonstrating the fact that ionospheric conductance requires some time to form and decay. These time delays constitute an effective “inertia” in the conductance calculation which is not accounted for in many global models which assume an instantaneous connection between precipitation and conductance. Ionospheric conductance inertia influences the temporal variation in ionospheric and magnetospheric electric fields, and as a result, impacts magnetosphere‐ionosphere (MI) dynamics on a global scale.