This work is devoted to the study of a fast non-relativistic electron beam–gas discharge plasma system within the framework of the kinetic theory of stability. The influence of a constant electric field, collinear beam velocity, on the stability of the system in an undisturbed plasma is studied. It is shown that even a relatively small electric field, which does not significantly affect the energy of the electron beam, can lead to significant changes in the parameters of harmonic disturbances propagating in the electron beam–plasma system in the region of its instability. It was found that the reason for such changes is the drift of plasma electrons, which, as a consequence, leads to a change in the frequency of disturbances in the coordinate system associated with the plasma due to the Doppler effect. The results obtained are demonstrated by calculations based on the kinetic theory of perturbation parameters in a low-voltage beam discharge in rare gases, which is used in the development of plasma electronics devices. The effect of electron-atomic collisions on the stability of the electron beam–plasma system is investigated and compared with the results of other authors' works.