We explore the classical dynamics of two interacting rotating dipoles that are fixed in the space and exposed to an external homogeneous electric field. Kinetic energy transfer mechanisms between the dipoles are investigated by varying both the amount of initial excess kinetic energy of one of them and the strength of the electric field. In the field-free case, and depending on the initial excess energy, an abrupt transition between equipartition and nonequipartition regimes is encountered. The study of the phase space structure of the system as well as the formulation of the Hamiltonian in an appropriate coordinate frame provide a thorough understanding of this sharp transition. When the electric field is turned on, the kinetic energy transfer mechanism is significantly more complex and the system goes through different regimes of equipartition and nonequipartition of the energy including chaotic behavior.