2003 50hp not charging

[tommy24a]

The last 2 times I was on the lake with my Pontoon I noticed that the volt gauge was barley hitting 12volts. And the tach was intermitant but mostly not working.Got a chance to check it out today. With the engine off I am getting around 12.3 volts at the battery with my meter. I start the engine and it reads maybe 12.5. Before when I was on the water the Volt gauge was always reading around 13.5 - 14v. So I started looking at the obvious like connections. The bullet connectors that come out of the flywheel area seemed brown and burnt. They were like fused together. I cut them apart and cut off the bullet and replaced them. The bullet connections on the regulator were in similar condition. Replaced them as well.. Started the motor and again no tach reading and the voltage was at 12v. And suggestions? Think the condition of the connections wacked the regulator? Thanks in advance for any help!

[boats.net]

Regulator may be shorted and burning wires, test regulator, may need to be replaced.

[FRANKGLOCK]

ck charge coil under flywheel