# How does Lenz law conserve energy in this case?

A magnet is falling into the coil as shown. The current in the coil creates a magnet as shown ( by the right-hand grip rule ). Now, as the magnet falls towards the coil, the magnetic field strength in the downward direction increases. The induced emf is such that it opposes this change, and so the induced emf decreases the current in the circuit, thus causing the magnetic field strength to decrease to counteract the increase from the magnet. Now, if the power in the circuit decreases, something else must be gaining that energy. But the magnetic attraction between the approaching pole and the pole due to the current has also decreased, so where has this energy gone?