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This paper investigates the effect of applied electric field on frequency center, bandwidth and slow down factor of an slow light device. In this way, we consider the shift of exciton energy levels in quantum wells. Analysis and simulation of a basic GaAs/AlGaAs quantum wells optical slow light device shows that applied electric field can tune the frequency and time domain properties of an optical slow light device. Simulation shows that electric field could shift the limited gigahertz bandwidth of this device up to 1 THz. These achievements are useful in optical nonlinearity enhancement and all-optical signal processing applications.