I would say its worn out brushes in the Voltage regulator.
Either replace the regulator ( around $60 ) or replace the brushes
( much cheaper ).
Thanks "Wildfiremaint, post 2913332, member:21015" Sorry for the delay in reply. It turns out it was the alternator. I suspected it. When I checked online the symptoms of a faulty Voltage Regulator, they didn't add up to my symptoms.
The outside temp got down to around 9 degrees (cold for the Gold Coast). As soon as I took off at 0300, the red battery light come on almost instantly, each time I drove to work.
One night I decided to put a blanket over the entire engine under the bonnet before I went to bed. The next day, at 0300, when I went to work, the red light did not come on, till about 2 kms from home. I work only 4 kms from home.
It suggested to me the alternator didn't like the cold. I have replaced the alternator myself, $220, and all is well, no problems.
I would never believe it if you told me put a blanket over it, BUT, it worked.
Thanks for your help!