I've been reading about electromagnetic induction and while the concept of transfering energy via magnetic field is intuitive, what I'm confused about is, where is the current or energy created? I know that the electromagnetic force is defined as

$$e = -\frac{d}{dt} \Phi$$

where $e$ is the resulting electromagnetic force and $\Phi$ is the magnetic flux of the magnet.

But how is the energy created and does it follow the law of conservation of energy ? Or can induction be used to create "infinite" amounts of energy?