This paper studies the analysis of a stochastic model related to a two-unit chargeable standby system with interchangeable units (identical), i.e. the operative and standby units are interchanged at random epochs. The system can fail either due to power fluctuations or due to the operator's inefficiency. Failure time distributions are negative exponential while the distributions of repair times and time to interchange (of units) are arbitrary. Using a regenerative point technique, we have obtained various reliability characteristics to carry out the cost-benefit analysis.