140 h.p. Mercruiser I4....was out running the boat yesterday and voltage at dash was spiking and dropping erratically. Lights were surging also so I know it is not the guage. Then it just stopped and battery guage will not move even at high speeds telling me I have lost charging system. Checked belt seems taught. Would this most likely be the alternator or could it be the regulator, the only reason I ask was because of all the surging that went on prior to no charging at all.