If you use the contact to apply an external electric field (which I suppose is your intention) the energy levels of electrons and holes will shift slightly. If you are interested in optical properties, you will typically find that the exciton absorption is still resolvable and shifts to lower energies. Details will of course depend strongly on your material system.
If you are interested in some particular material look for any article containing "quantum confined Stark effect" and your choice of system in the title. Otherwise the standard reference on the quantum confined Stark effect is D.A.B. Miller et al., "Band-Edge Electroabsorption in Quantum Well Structures: The Quantum-Confined Stark Effect", Phys. Rev. Lett. 53, 2173–2176 (1984).