Can I keep mulled wine on the stove for longer I'll be making mulled wine for the very first time.  I'll be preparing it an hour in advance, more or less.

Once I've completed the recipe can I keep it on the stove on low or low-mid setting for another hour or two without risking any unpleasant taste to it ? If not, how can I keep it warm to hot for that long at home ?
Yes, you absolutely can do it. This is how it is done at Christmas parties and commercial Christmas markets in Germany. Just keep it warm and it will be OK. You won't get much alcohol or taste loss.