Abstract Between 2015 September and 2016 January, we obtained 18 spectra of the 2015 classical outburst of AG Pegasi—a symbiotic star consisting of a white dwarf (WD), red giant, and surrounding nebula. Modelling the flux contributions of these components reveals that nebular emission, from the reprocessing of high energy WD photons, dominates the 3200–6300 Å range. Nebular emission rises and falls in line with changes seen in the WD, whose properties have been derived using Hβ and He ii (4686 A) line flux, and emission measure calculations. WD parameters follow changes seen in visual band light curves. During the second peak of the outburst, WD temperatures reach 166,000 ± 6000 K, with a luminosity and radius of 14,000 ± 2000 L ⊙ and 0.149 ± 0.014 R ⊙ respectively. These features are consistent with an expansion of the WD pseudo-photosphere due to an accretion rate exceeding that required for stable hydrogen burning.