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Why is my hot water heater leaking from the copper pipe on the side?

I'm most interested in knowing if this is something that I can repair myself quite quickly or if I need to replace either the heater or some part on the heater.The water heater is a Power Miser 9 (30 gallon); model 153.337363. It looks like it may have started leaking only in the last few days. We only noticed it this morning. We've been using the heater a great deal in the last 60 days. The amount of leakage filled up a 5 qt pan in 20-30 minutes. The
water is leaking directly onto the basement and there is no drain, so it's puddling on the floor. I believe this may be the discharge pipe.

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1 Answer from this member:
scott d
by scott d Earned 8,226 community points in Building Supplies
February 11th, 2010
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Jenni Graham
How much does something like this cost to fix? Estimate of course.
Laurel Laurel
great and thorough response Scott D! I'm dealing with this right now myself. Plumber is expected tomorrow & we'll see which way he says to go.... Urgh!
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