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Temperature and Pressure Relief Valve
Your water heater is a potential bomb in your basement that could level your home and possibly your neighbours also. The Temperature and Pressure Relief valve on the side of your water heater (whatever the fuel source) should be checked annually for correct operation and replaced if not functioning . Replaced every 3 years as a safety precaution.
First check that the valve has a discharge tube attached that points towards the floor and gets within 6 inches of the floor. do not stand with your foot under the discharge tube.
Gently pull on the lever to allow a small amount of steam and/or water to escape onto the floor. Release the lever when approx a cup full of moisture escapes. It may continue to drip. If after approx 15 mins it is still leaking onto the floor then call a plumber/ rental company to arrange replacement (approx cost of valve $25, free for rental appliances)If nothing escapes when you pull on the lever, THIS IS AN EXTREME SAFETY CONCERN. Turn off the power source and call plumber/ rental company as the valve is not functioning at all.
For further advice / assistance contact me or another competent plumber/ home inspector.