That must be the issue in my neighborhood. I have electricity but only parts of the house.
My dryer still runs but the heating element doesn't heat. When I do run the dryer, the lights that wouldn't come on, do but are dim.
When the dryer is on it is connecting the two phases together through the heating element. Not a good idea to try an run anything that takes 220 with one phase out.
If your water heater is electric, turn off the breaker till your service gets fixed.