Thank you for your question. My name is Steve and I am a fully qualified vehicle technician with over thirty years in the trade. Hopefully I can help you.
The red light remaining lit is an indication that alternator is not charging the battery, even though the engine is running fine and the vehicle is driving ok this is still very likely and if left will result in a flat battery. This may prevent the vehicle from starting.
If you have access to a voltmeter you can check the charge of the battery by using the voltmeter directly on the battery, you should see around 13.5 - 14 volts with the engine running.
You should also check under the bonnet to see if the auxiliary drive belt (fan belt) is still fitted and tight.
There is another possibility that the problem is with the ignition switch, i mention this because of your last comment about the accelerator cutting but the ignition was still on.
The first test though is to see if the battery is charging ok.
I hope this answers your question but do please feel free to ask me any further questions.
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