Umm if you are generating electricity you are also generating magnetism and vice versa. You cannot have one without the other. Since he is using a power source to create the magnetic field, and not generating the magnetism from another force he is simply generating electricity from magnetism he created from electricity.
EMF(electrocmagnetic force) is one of the fundamental forces in the universe, the two are not separate. So if he is putting into the system an x amount of energy he has to get the same out of the system, newtons law.
Where is the electricity in a stationary magnet?