Preheat the oven to 180°C and place cupcake papers in a muffin tin.
Combine all the ingredients (except the chocolate chips) in a large bowl and beat until the batter is smooth. Fold in the chocolate chips.
Divide the batter between the cupcake cups and bake for 15-20 minutes until golden and a toothpick inserted comes out clean.
Remove from the oven and allow to cool for 5 minutes in the tin before placing on a cooling rack to cool completely.
To make the frosting, beat the peanut butter and unsalted butter until pale and fluffy.
Beat in the icing sugar and vanilla extract.
Add the milk one tablespoon at a time until you have the desired consistency.
Pipe the icing onto the cupcakes.
Reprinted with permission of Simply Delicious.
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