Low RPM in water, High RPM out of water

[JKIMBLE]

I have a 1998 GTX fuel injection, 127 hours. Compression test shows 125 psi on both cylinders. New plugs, new injectors. When I am in the water it will only hit 3140 rpm and 10 mph. When I have it hooked up to the water hose I can tap it out at about 6700 rpm. Wear ring looks good. Starts right up and stays running. Red light flashes and says MAINTENANCE, but goes off after about 5 seconds and does not come back on until after you start it again. I’m not sure what engine I have? Please help….

 

[POPPS]

Could be rectifier going,,,or fuel pump going,,,

 

[JKIMBLE]

Could be rectifier going,,,or fuel pump going,,,

I thought the rectifier changed AC to DC to the battery? How does that/ how can it effect spark?

 

[POPPS]

If the rectifier is not allowing the battery to charge,,,they will start,,,biut not rev out,,,the elevtronics on a watercraft,,,gets everything from its homebase,,,the battery..