OK, so do we agree that a force is produced? And this force opposes the motion?
Let us now apply Newton's Second Law.
F = ma.
ie. the object accelerates in the direction of the force.
This force opposes the motion, hence it must decelerate.
It must SLOW DOWN.
In an ideal system, the loss of kinetic energy by this means would equal the amount of electricity generated, but this is not an ideal world and things like eddy currents will reduce the output.
PS.
Laws of thermodynamics.
Such as 'in a closed system, entropy always increases'
Such as 'energy can neither be created nor destroyed, only transferred'