We present a multiwavelength analysis of the nebula around the candidate luminous blue variable G79.29+0.46. The study is based on our radio observations performed at the Expanded Very Large Array and at the Green Bank Telescope and on archival infrared datasets, including recent images obtained by the Herschel Space Observatory. We confirm that the radio central object is characterized by a stellar wind and derive a current mass-loss rate of about 1.4x10-6 Msun yr-1. We find the presence of a dusty compact envelope close to the star, with a temperature between 40 and 1200 K. We estimate for the outer ejecta an ionised gas mass of 1.51 Msun and a warm (60--85 K) dust mass of 0.02 Msun. Diagnostics of the far-infrared spectra indicate the presence of a photo-dissociation region around the ionised gas. Finally, we model the nebula with the photo-ionization code CLOUDY, using as input parameters those estimated from our analysis. We find for the central star a luminosity of 10^5.4 Lsun and an effective temperature of 20.4 kK.